spaced from each other for capturing cable 16 therebetween when the cable loops 15 and 17 are tightened about package 2 spool 40 preferably is a one piece member molded of a rigid plastic material and cable 16 preferably is comprised of the two cable sections or loops 15 and 17 a circular central recess 45 fig9 is formed in flange 43 and contains a printed circuit board 46 which includes the necessary electronic circuitry not shown well known in the art for providing an alarm system discussed further below four slotted holes 48 are formed in flange 43 and communicate with cable openings 34 for inserting enlarged ends 49 of cable loops 15 and 17 therethrough ends 49 are metallic and are received within small compartments 51 formed on circuit board 46 where they are connected to the electric circuitry of circuit board 46 by conductors 52 three of the four cable enlarged ends 49 are shown seated within their respective compartments 51 and are connected to circuit board 46 by conductors 52 the alarm system further includes an audible alarm having a speaker 54 fig9 which is mounted within a complimentary shaped circular recess 55 formed on the inside surface of a top wall portion 57 which is another of the main components of ratchet mechanism 4 speaker 54 is connected to circuit board 46 by a pair of conductors 58.