Old looking fishing thing

I have this old looking fishing thing, anybody know what it is ? One end has a spring like pull.

Thank You

 

I've seen spring loaded "automatic hook setters" before, just not that type. Does the spring end have a "set" to it? I mean like you pull the spring end out till it catches on a latch, then you tie a line with a hook with your bait and toss it out. When a fish bites it, the spring unleashes from it's set and recoils setting the hook in the fish's mouth. I may be wrong on this one but it reminds me of the automatic hook setters I used when I was a kid.

 

The spring doesn't latch, but I think you are correct, Thanks man...