Classic/Antique Car Repair: Oil not registering after oil change, hemming motor news, 4 quarts

Question
I have a 1952 Ford V8 Flathead 239, just purchased, running nice.
The oil that was in the engine appeared dirty and very thin. Drained old oil, replaced with 4 quarts of Valvoline 20W - 50W.  The engine sounds very good, no knocking or tapping. There is no evidence of burning oil or oil leaks.  Problem is that the oil level is not registering on the dip stick when the engine is not running.  Oil level shows high on dip stick when engine IS running.  After engine sat for 24 hours, there is still no reading on the dip stick. Idiot gauge shows good oil pressure, engine still sounds and runs good.  Should I add oil until it registers on the dip stick?  Looking for some explanation as I am baffled!

Answer
That engine has a crankcase capacity of 4 quarts plus one for the oil filter if you changed that. I would not depend on the dip stick being the right one for the engine. And I would not add oil until it registered on the stick. The oil reading on the stick when the engine is running is not accurate as it is "splash" oil from the rotating parts in the engine. You might want to get a copy of Hemming Motor News, the old car hobbies classified advertising magazine, and find a new dip stick.