Here are where the oil lines go on a 1954 235 block. My 1960 261 block is the same (except the 1960 has a full-pressure filtration system and larger holes/lines, while the '54 has a by-pass filtration system). My oil filter is a GM AC canister clamped to the intake manifold. The inlet (right upper side of canister) and outlet (bottom of the canister) openings are labelled on the canister. The above information came from an illustrated GM installation guide (for 1953).
As Cletis indicates, the oil pressure guage line goes into a tee adapter that goes into the block in the hole on the right.
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I do not know what the purpose is of plugged hole in the middle top of the head on the coil side. This hole goes into an oil system journal that leads to the rocker arm shaft.
Hope I do not confuse you.
Tim
[ 01-27-2002: Message edited by: tclederman ]