What I did was to get my Dremel Moto-tool and some #409 abrasive

cutoff disks and cut screwdriver slots in the bolt heads,

then removed or tightened them with a regular screwdriver.

If this seems too pedestrian you can replace them with allen head

bolts of the same size. I think they changed from 5/16" - 18 UNC

to M8-1.25 somewhere along the line. M8-1.25 amounts to roughly

5/16" - 20, so the bolts look a LOT alike but have slightly finer

threads on the metric ones, within a couple thou of the same

diameter. Be sure you get the right ones. I'd guess they changed to

metric in about 1975 or with the first 240s.

When I've had that problem I've been able to get some (not all) of the lateral slop out by adjusting the dash cross member out as far as it will go against the shear bolts. There's two Philips head bolts at each end of the cross member that you'll need to loosen. You'll want a BMF screw driver or socket bit and maybe a third hand for this job. If that doesn't help enough then replacing (or shimming) the shear bolts may be required if the column mounting itself is moving at the bolts. If the column is moving within the mounting then there are bearings top and bottom on the column that can wear. These bearings can be replaced, but it looks like a laborious job to get the whole column out and back in. Most people would probably just learn to live with it.

I've had those come loose on my 740 and they also came loose on my mother-in-laws old 240. Someone warned me to remove one bolt, put in the new one, then remove the second bolt, as there is a piece on top of the column that can fall out of place. I can't verify that for sure, but I did what they suggested and it worked out quite easily.

They have heads that break off when they are tightened. If they are loose enough that the column is moving it should not be too tough to remove them. You drill a hole in the head and use an appropriatly sized ez out to remove them. Sometimes you can use a small chisel and hammer to rotate them but thats a bit of a fight in confined spaces. When you get them out thet can be replaced with a standard hex head 8mm bolt.

You probably want to make sure the mount at the lower end of the column is tight- it is unusual for those top mounts to loosen up.