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From The Collaborative International Dictionary of English v.0.48:
Owl \Owl\, v. i. [imp. & p. p. Owled; p. pr. & vb. n. Owling.] 1. To pry about; to prowl. [Prov. Eng.] [1913 Webster] 2. To carry wool or sheep out of England. [Obs.] [1913 Webster] Note: This was formerly illegal, and was done chiefly by night. [1913 Webster] 3. Hence, to carry on any contraband trade. [Eng.] [1913 Webster]