This section is from the book "The Boy Mechanic Vol. 2 1000 Things for Boys to Do", by Popular Mechanics Co.. Also available from Amazon: The Boy Mechanic, Vol2: 1000 Things for Boys to Do.
Turn two large screweyes into the under side of a shelf, as far apart as is necessary, and slip a rod into the eyes. The rod may be kept from slipping out by threading each end and turning on a nut after it is in place. Hooks are made from heavy wire, in the shape of the letter "S," and placed on the rod. A screweye is turned into the end of each chisel handle and used for hanging the tool on an S-hook. As many hooks are provided as there are tools in use. This method of hanging tools is especially adapted for the wood turner. - Contributed by Wallace E. Fisher, New York, N. Y.
Ill: The Chisels are Kept Close at Hand and the Right Tool may be Quickly Found