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might be in the column itself
I've never taken apart a non-tilt column, there might be a retaining clip in there. At the bottom of the column, where the shaft meets it, there was also a collar of sorts on my '85.
If my memory is correct, there is a spring that is supposed to be held with a washer by the sector shaft joint. This spring and washer arrangement is what keeps tension on the shaft and upper and lower bearings. Is the lower bearing in there? I'l try and check it out on the column I took out of my '72 and get back to you.
So I realized that you have a 4-speed column. Correct? The one I have is auto. The non-tilt is as I described, but the tilt does not have the spring and washer on it. I can't remember if the lower bearing is the same on non-tilt 4-spd. Seems to me there is something that needs to hold the shaft from moving up as the steering wheel holds the upper bearing down into the column. Sorry i am not much help.
Mine was doing that for a while. You have to loosen the set screw at the top of the steering shaft and compress the spring/washer at the base of the column. Then push the shaft further up and retighten the set screw. Took like 3 minutes once I figured it out.
My best answer from what I can see is that you are missing the washer/spring stuff. I would bet that you can find something in the hardware store if you can't find some original parts. I would check and grease that lower bearing too.