If you have a Merc-O-Matic column it's easy like here: http://1954ford.com/forum/viewtopic.php?f=32&t=2951 If the car is a 3 speed stick you have a lot more to do by looking for a 1952-54 automatic column.
I have a Merc-O-Matic column which is different than Ford and I have dual exhaust. I used a cable shifter for a couple years, but was hard to get out of Park if you parked on a hill. Still Looking
There were several different shift lever designs that Ford made for installing C4's into different vehicle applications. In my 53 Merc HT I used the stock Merc O Matic column, found a shift leaver from a C4 ****** in a bone yard truck that dropped down from the ****** about an inch and then did a 90 degree straight out about 2" and then dropped at 90 degrees again towards the road surface. I cut a slot into it with a zip cut to make the shift rod adjustable at the transmission end and adjusted it in and out until I was happy with the throw of the shift lever at the column and got all the gears.
Limeworks Speed Shop makes a column shift link kit. I bought one but not sure if I'm going to use it.