Well by 31 there were several different positions of the steering wheel. There was the original height and then for some of the slants they lowered it some.
So to make all this happen they made the holes a bit oval.
Your holes look like they have been filled in some and the big round hole looks like stuff was banging around some.
My frame has 2 oval holes for the steering and my frame is the last style Ford made.
WOW that is so interesting Kevin! You see I also found oval holes on my March 31 stamped frame, and welded them up round using patterns from 2 earlier frames.
Now that the cowl is mounted to frame, my column sits lower than the tank clamp and I was dreading having to reweld and bugger up my powdercoated frame

.
Thinking about it....it's far less stress on the whole assembly if the frame and body can flex and sag and twist without taking the steering gear with it. The steering wheel stays put because of the upper bracket and the box just sorta floats a bit...
Hmmmm, now I wonder if the bolts should be installed "just snug"...not tight...and that's maybe the reason for the cotter pinned nuts?
Hopefully someone else will chime in here if they know more about these oval holes. Is this documented anywhere????
I'm going to find my rat-tail file. Thanks again Kevin.
**Post edit** ...after sleeping on it, I now think the 2 gear bolts should be snugged up tight once the upper clamp is secured & it's "comfortable" on the frame. Otherwise the action of turning would place the entire force on your column tube and sector shaft.
Hmmm...this might be why my tube was cracked at the bottom...cuz the gear-to-frame bolts came loose and the tube was taking all the turning force?