Ratcheting winch with a magnetically biased pawl

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A winch for controlling the tautness of a length of wire includes a generally U-shaped frame and a spindle rotatably mounted on the frame, the spindle serving as a spool on which the length of wire can be wound. The winch additionally includes a ratchet rotatably mounted on the frame in co-axial alignment with the spindle, the ratchet being fixedly connected to one end of the spindle using the combination of a threaded bolt and a washer. Furthermore, the winch includes a pawl pivotally mounted on the frame, the pawl capable of being pivoted between a first position in which the pawl sequentially engages outwardly extending teeth in the ratchet so as to limit rotation of the ratchet in only one direction and a second position in which the pawl disengages from the ratchet to allow for rotation of the ratchet in either of two opposing directions. First, second and third rare earth magnets are mounted in the frame and, in combination with a pair of outwardly projecting ferritic arms provided in the pawl, serve to magnetically bias the pawl into either of its first and second positions.