Hold is a command that moves an item from your inventory to your hand, ready for use. It is equivalent to the Grab command.
The item grabbed is the top item in your equipment list under your lantern which will the first item referenced. Often hold/grab containers ie. 1.pack
In Game Description[]
Syntax: grab <object> hold <object> This holds an item in your hand, so that it can be used in one way or another. Example: > hold lantern > grab scepter