This ratchet was produced by Bugle Toy of Providence, Rhode Island. Item for item, Bugle made the most interesting, avant-garde designs of the major manufacturers. The overall number of their tin designs was small but collectors covet them, so prices have been firm, very different from most tin litho noisemakers that have seen sharp price declines. Sometimes Bugle had the wood handle at the witch's hat, as in this example, and sometimes at the base of the JOL. Placement is not material to value.
Mark B. Ledenbach's vintage Halloween collectibles blog.