Gary: When Cadillac did away with the shutters and starting in 42, the thermostat was relocated behind the top of the radiator in the fitting that accepted the water from the left and right head. Until the water in the engine was at the correct temp, the thermostat stayed closed. To keep circulating water in the engine with the thermostat closed, the outlet for the radiator hose from the left cylinder head has a 5/16 hose nipple for 5/16 by-pass hose as shown by the arrow in picture 1. That hose went across the front of the engine into the 5/16 nipple on the top of the water pump shown in picture 2.
I know of no other shut off valve location, for the water for the under seat heaters, than the valve in the line for return water from the heaters that goes into the water pump as shown in picture 3. I have seen 2 ways of installing that shut off valve. With an extension or the shut off screwed directly into the water pump. I elected to use the pipe extension as it makes the hose run too close to the exhaust pipe without the extension. Bill