The hatchet measures about 12" long, made of rubber, and I believe he said the handle was fiberglass (I could be wrong about that). One side of the handle says "CRACKERJACK FIRE HOSE" the other side says "THE AMERICAN RUBBER MFG. CO." See image below.
A Google search showed similar hatchets sold on eBay and another auction house, the description on those auctions said it was a advertising giveaway from the American Rubber Company.
Doing a little more research I found a November 1938 pamphlet "Kansas Municipalities", that says they were given away as souvenirs by the American Rubber Manufacturing Company and that it's best brand of fire hose is the Crackerjack. See image below.