Like others have said, pictures will help.
#5 is at the front of the engine on the oil filter or fuel pump side.  1-4, front to back on starter side.  5-8 front to back on oil filter side.  It will point to #8 or maybe #7 when installed correctly.
Also as others have said, you do not want a '55 distributor, so using it is a lost cause.  It will only work with the matching carburetor.          
			    				
			    
Lawrenceville, GA