Huh??? I'm not from Missouri but you're going to have to show me that one... the two piece drill you're talking about
You cannot see the weld joint, it is done before the blanks are finished; take a drill and grind on each end, note the difference in sparks; this is especially true with taper shank drills, the flutes are hard, the taper shank not nearly so hard, and of a different steel alloy; this is one reason it is easily possible to twist the tang off one of them, it twists off, it does not shatter as it would if it was as hard as the cutting portion of the drill. also note how the tang gets beat up by the drill drift used to remove it from the spindle and/or the taper sleeves.