Please, help me to clarify some doubts about the gasket that goes in the rear end of the cranckshft.

I got from Olson gaskets the gasket that goes in the groove of the pot metal part, that colects the oil that may leak the gasket, returnig it to the oil pan, in my Continental engine W15 placed in my 1928 M2.

Received for that specific purpose two square section ribbons, one that looks like plain felt and other made out of an oily gasket material. I assume that the last one goes in contact with the shaft, and the felt may back it. The question is, if that felt should be cut to adjust to a thinner size or should be compressed as it comes. The felt part removed from the engine before repair, was compressed to a much thinner thickness and I doubt if all that material of the new one may fit in there.
The second question is to confirm if the gasket surround the cranckshaft 360° or only the lower half.

Original maintenance manual pictures are not detaild enough to clarify my doubts.

Thanks in advance

Ricardo

Do You own a car built by Durant? Yes