An exercising device having a housing which is attached to a stationary surface. A cord with a hand grip on its free end can be pulled out of the housing against the internal resistance of the exercising device. The amount of internal resistance can be varied by means of a control knob. An automatic rewind mechanism draws the cord back into the housing when the cord is released. The device has, as a specific feature, a manually adjustable resisting force mechanism. This mechanism includes the combination of a stationary capstan around which the cord is wrapped, and a variable force friction nip mechanism which (a) retards the cord as it is pulled out of the housing, and (b) maximizes the capstan's frictional resistance by keeping the cord tightly wound around the capstan as the cord is being pulled out of the housing.
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