I need help identifying . the cannister-looking item between the distributor and fuel pump. Its a 1954 3100 with a 235. The cannister is 5 1/2 " high and 2" in diameter.
A picture would help. Too small for an oil filter. Most likely you are asking about the draft tube. One end pushes onto the block, the other end is an open tube about 1" in diameter with the end cut off at an angle. The angle end hangs down into the airstream at about the level of the bottom of the frame. The purpose is to allow crankcase fumes to vent to the outside world.
Does it look a lot like this? This one is from my GMC 302, but a Chevy engine that had an oil filler cap on the valve cover would have a draft tube that looks a lot like this one.