I think you are referring to a drag-line. Old technology that has been replaced with hydraulic track-hoe.
A drag line it is!
I dunno about them being replaced, they're still making new ones, and they are used in open pit coal mines. Track-hoes are limited by reach, and constantly dipping them in water washes the grease away from the pivot pins pretty quickly. Track-hoes or excavators DO work a lot better then the drag lines where you can see what you are doing, within reach, but when you really start reaching for stuff, the bucket capacity really goes down.
