form of the invention used with a conventional spool 531 wherein no skirt is provided the spool 531 has a ring boss 572 integrally formed therewith as stated above the ring boss 572 could be a separate item attached to the spool the ring boss 572 is encompassed within the sleeve 34 of the rotating rotor housing 30 the first drag applying apparatus 505 is provided by a drag washer 598 which is keyed to the center shaft 590 by protrusions 592 engaging flats or splines 594 on the center shaft the drag washer 598 bears against a stop 596 on the center shaft a clicker apparatus 100 is carried by the drag washer 598 and engages with the teeth 82 on the ring boss 572 a drag washer 504 is seated between the end face 576 of the spool and the axial face of the drag washer 598 the drag washer 504 seats around its periphery in an undercut 74 as described with respect to fig3 the second drag applying apparatus 510 has drag washer 114 bearing against axial face 116 with drag washer 118 keyed by protrusions 119 to the splines or flats 120 in the center shaft the drag adjusting knob 524 has a recess 530 which terminates in a shoulder 544 splines or flats 535 are formed in the recess 530.