I asked what the arrangment was back in 2017. Ray T posted this which says that there was a ratchet:
387,951. Sluice valves. BENCE, E. H., Municipal Engineering Works, Langley Green, Birmingham, HAM, P. S., 70, Victoria Street, London, and MORGAN, E. I., 8, Wolverhampton Road, Sedgley, Birmingham. Aug. 24, 1932, No. 23694. [Class 68 (ii).] A sluice valve is operated by screw gearing of such a pitch that the valve, when raised and released, will descend by its own weight. The Figure shows a gearing for raising a flat sliding valve, not shown, at the lower end of a non-revolving rod 14. It comprises a gear case 19, 20, containing bevel wheels 23, 24 rotatable so that the nut 35 raises the rod 14. When raised, it is retained by pawls 33a, 33b engaging with ratchet wheels 30, 31 ; these may be released by overturning a link 34, and the valve then descends. The stop 37 is fitted with a buffer 38, or may function as a dashpot. In a modification, the rod 14 is keyed to the wheel 23, and rotates in a nut at the upper end of a tube attached to the valve rod. Buffers are fitted at the lower edge of valve ; they may be removed to enable the valve to be removed.
Edited July 17, 2017 by Ray T