Green’s Dictionary of Slang

block and tackle n.1

[play on SE]

(orig. Aus.) a watch and chain.

[Aus]Truth (Melbourne) 24 Jan. 11/6: [headline] May Migrates With Burdett’s Block and Tackle [...] May Brown [...] was charged with stealing Albert’s watch and handkerchief.
[Aus]‘Banjo’ Paterson ‘Done for the Double’ Three Elephant Power 135: ‘I moskenoed his block and tackle, and blued it in the school.’ In other words, he had pawned the boy’s watch and chain, and had lost the proceeds at pitch and toss.
[Aus]Smith’s Wkly (Sydney) 2 June 21/2: Round the back of the stand he brought to light a brand-new ‘block and tackle’.
[US]M.C. Sharpe Chicago May: Her Story in Hamilton (1952) 132: Block and tackle – watch and chain.
[Aus]Sun. Mail (Brisbane) 13 Nov. 20/8: No denizen of the underworld has any other name for the purse or wallet but ‘pogue,’ just as he would term relieving a citizen of his watch and chain ‘hoisting a block and tackle’.
[US]Monteleone Criminal Sl. (rev. edn).