I find numeric labels more disturbing than most any pre-f90 features myself with a few minor exceptions,
but there used to be rule books. One such suggested that any outer do-loop be a multiple of 10,
that formats be 101, 202, 303, 404 … unless there were a large number in which case they could be 101, 102, 103, …; that nested do-loops end with a 5; and that you never used a goto to a label that was a multiple of 5 except from inside the do loops. That lines used as targets of a goto (assumed not to be the foot of a DO, which would be repeated digits (with a minimum of two) such as 11, 22, 33, … and that famiies of related targets from something like a computed goto be prefixed with multiples of ten but be four or more digits, like 1001, 1002, 1003, 1003, … There were others but I have seen that one used in a number of codes I still run across. And 99999 or 9999 was recommended as a target at the end of the procedure and that a goto 99999 was preferred over multiple returns with a few other dusty corner rules. It was suggested that values increase from the top to the bottom of the procedure; and renumbering utilities were relatively common that often let you resequence the numbers as code was rearranged. It was suggested you increment by several steps to leave room for still following the suggestions for things other than formats (which can be arbitrarily placed so they are easy to keep sequential, say at the end of a procedure (I usually prefer the formats being at the point of use if only used once, so I did not follow that one very often, personally). So when first writing the code you might increment do loop numbers by 20 or 50 so it would be easy to backfill. Several of the renumbering programs still exist, I think some are listed on the Fortran Wiki.
There certainly were no hard and fast rules, however. Looking through code on NETLIB proves that pretty quickly. But you would be moving in the right direction to use any syntax that lets you remove numeric labels where not absolutely required IMO (such as the ENDDO recommended above).
As in the past you can make up your own rules for numeric labels though. But since you mentioned it, there were several camps with suggested rules, and (at least as I recollect it) that was a description of one of them.
The general idea was to use patterns that let you identify the use of the label (foot of loop, target of goto, format, value used by ASSIGN, value used by a call to a procedure with multiple returns, …) just by the value alone; so it was not the exact numbers used, it was establishing such a pattern that was suggested.
Once CONTINUE was introduced, many guides strongly suggested all numeric lines (except for FORMAT statements of course) be CONTINUE statements to reduce the confusion labeled executable lines caused, especially when used as the foot of a do loop.