If you want to convert your chuck to a modern Jacobs style chuck check out ebay for a 1/2" chuck with a 1/2 straight shaft like they use in a milling machine. If ou have acess to a lathe you can make the straight shat adapter your self and use a chuck from a old 1/2" electric drill and do it on the cheep. You can braze the ratchet arm back togeather but be careful as the metal is realy old and sometimes brittle. I have a old post drill that i use every day and have grown to love it. When you go to set it up take great care to get the table square with the chuck. Take care of it and your grandchildren can pass it on to their grandkids. If your intersted in smithing I think there is a blacksmith club in yor area called BAM.