[i heart square bodys]

i have a 327 chevy engine that i am cleaning up and i noticed something odd .. or anyways different than the other engines that i have seen. on the left hand side of the block where the water pump mounts there are the 2 bolt holes what appears to be a dead hole under them with what looks like some kind of stud in the hole . all the other (350) blocks i have seen, this hole is open and it feeds into the water pump. whats going on here ? is this okay/normal?