This is much like the Millers Falls no. 4 ratcheting handle. If you haven’t seen one of those, they also have a reversible ratchet, and a removable handle, but in addition use a chuck like on a bit brace.
Another interesting feature was the removable handle could be screwed in a hole on the top to stabilize the auger if/when boring in a corner. In addition the removable handle was made in 2 pcs. so it could rotate in your hand. It was a very well thought out tool.
Mike