What is this ratchet tool used for

[Mel Larsen]

A friend gave this tool to me and I have no idea what it is.

[lptools]

Hello , Mel. We all need to see the other side. I'm guessing there is a square female opening. Pretty sure it is a ratcheting handle for square shank/tang drill bits. Somewhat similar to the wrench J in the photo. Thanks to Internet Archive for the catalog photo. I might have one around here.

[Mel Larsen]

Iptools,  it does have a square hole on the (top?)  I'll try to get some more photos of it.   The other side has a pointed shaft with a slot in it.  At first I thought it was some sort of key way, but it's too deep for that.  The point also looks to be worn.  I'm not very familiar with my new camera.  It wanted to produce photos too large for the site to except.  As soon as I get some photos smaller, I will post them.

[Mel Larsen]

a few more photos.  And there is a square hole in the back side, or top ?

[Bill Houghton]

Does the part with the point on it unscrew as you turn it relative to the body of the tool?  If so, most likely what lptools suggests.  The pointed part would be placed against a board braced up next to the item you wanted to make a hole in.  Turning the tool while holding the pointed part still would result in pressure on the drill bit, so it would drill in awkward spots.

[Mel Larsen]

I think you right, and it makes me want to go out and KISS my DeWALT cordless.   Thanks guys for the help.

[Bill Houghton]

A little historical trivia about that board braced up so the ratchet drill could press against it: the common term for it was "old man."  I guess old men were still good for something back then.

[Mel Larsen]

I believe you would for sure to be a "OLD MAN" before you got a hole drilled, using this method of drilling a hole.