I suspect there is a mismatch. Is that your Power Steering Gear box off of your old frame or the one that came with new frame? Are they both the same in appearance? (check Saginaw steering box sites to identify a 500, 600, 700, or an 800 series gear boxes; and what distinguishes them from each other:
WHEW! Glad you got that resolved. I was going to say that the metal tang on the rag joint really needs to be within that notch on the end of the column! Unsafe to not have that in place. It would have worked until it ripped in half, then bad things happen fast.