Dear Bob;
Drew is correct, the 'in' line is on the top and should be that way, with the 'out' line comming out the bottom of the canister.
This filter is a "by-pass" unit which filters only about 1/6th of the engine oil/not much value and more of a fire source.
Most of them were installed by Dealers for added revenue(s)back then.
Today; Many just remove it totally for safety reasons as these lines can/do leak, squirting oil on the hot exhaust, causing a major disaster etc.
To do this simply plug the 'out' line hole in the block. Then remove the 'tee' and replace the oil guage line with an adapter (for the 'in' line.)
Using quailty oil (SAE 30) and changing regulary is all that's required for the early engines.
This will "clean up" the engine compartment too.
Except for some 261" engines the "full flow" didn't exist till 1963 on the Chevroled 6. This is on the right side of the engine and 'spins on'.
Good luck.