If I understand correctly and you are planning to use the 48 trans off a 356 with a 359 you will run into some issues.
The trans used with a 356 has a larger diameter input shaft, OD is different and combo was used only with that engine. To work with a 359 will require a different clutch and maybe pressure plate as well as some additional changes in the overall clutch assy from parts normally used with the 359. The larger input shaft also needs a larger pilot bearing that may not fit in the later flywheels used on the 359 crank. If you do overcome those issues and are lucky the 48 trans/OD is the R11 but if not and the 48 trans/OD is the R9 the electrical components are specific to that unit, available in 6v only, and harder to find which translates into more complex and expensive.
In case you have an R9 it would be better to find a 48-54 R11 trans/OD that was used with the smaller 288/327 block engines. As long as you get the bellhousing and clutch stuff it should bolt right up to the 359 although the transmission mounts to the cross member may need work along with changing the mounts on the engine from the side to the front to fit in a 40. If you haven't already seen it, here is a service article mentioning some of the changes needed to mount a later engine in the prewar frames.
https://packardinfo.com/xoops/html/downloads/SC/SC-VOL27NO7.pdf Electrical on the R11 is simple, solenoid repros are made and available in both 6v and 12v. If you want it could be controlled manually via a toggle switch but if you want factory operation, except for the lockout switch which might be able to be worked around almost everything else is able to use off the shelf universal switches and relays. The only factory electrical item absolutely necessary would be the governor.
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