To solve this problem, let's assign variables to the four consecutive counting numbers.

Let's say the smallest number is $x$.

The four consecutive counting numbers would then be $x, x+1, x+2, x+3$.

According to the problem, the sum of these four numbers is 154.

So we can write the equation:

$x + (x+1) + (x+2) + (x+3) = 154$

Now we can simplify the equation:

$4x + 6 = 154$

Subtracting 6 from both sides of the equation gives:

$4x = 148$

Dividing both sides of the equation by 4 gives:

$x = 37$

Therefore, the smallest number is 37.

The correct answer is option B.

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