Jack
Yes. That is how this one works. Similar description is in Dykes Automobile Encycl, pages 312-313, and 1118 shows diagram of one, and how to recharge the Ford magneto still in the car. That sketch doesn't have the hand grip, but function is the same. Remove hogshead, determine polarity of the magnet ends, and place the S pole of the Magnitizer on the N pole of the magnet for recharge. Of course you have to be sure the + and - on the Magnetizer are proper.