UB Snap on was a late comer to the ratchet business. Walden Worcester,Frank Mossberg all had them before Snap on was formed.
Quote from the A-A site.
Snap-On began its operations in 1920 and initially offered only sockets and drive tools. The subsequent spectacular success of the company may have left some with the misconception that Snap-On actually invented the interchangeable socket; however, this is not true at all. The idea of using a wrench with interchangeable sockets goes back at least to the mid-19th century, and in the decade before Snap-On began, a number of companies were offering sets of sockets with matching drive tools.
One notable example of these early socket sets was produced by the Frank Mossberg Company, beginning around 1913. The set included a generous number of sockets (including a few deep ones), a ratchet wrench (reversible!), an extension, and even a universal joint, all packaged in a nice wooden box. The sockets could be driven either on the outside of the base (11/16 square) or on the inside (1/2 square and compatible with modern drives), allowing them to be used with the double-male universal joint. All considered, it was quite an elegant set of tools, and lacked only one important feature -- strength. The sockets were formed from thin-wall tubing and were quite susceptible to cracking, so they simply weren't practical for heavy-duty service operations.
Walden history from AA
Walden was founded in 1906 as the Walden Manufacturing Company, and took its name from the founders, Charles M. and Frederick E. Walden. Frederick Walden was a notable inventor, and the company's first products were socket sets built around a distinctive wire-handle ratchet invented and patented (#928,719) by Walden.
