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From The Collaborative International Dictionary of English v.0.48:
Woold \Woold\, v. t. [imp. & p. p. Woolded; p. pr. & vb. n. Woolding.] [D. woelen, bewoelen; akin to G. wuhlen, bewuhlen. [root]146.] (Naut.) To wind, or wrap; especially, to wind a rope round, as a mast or yard made of two or more pieces, at the place where it has been fished or scarfed, in order to strengthen it. [1913 Webster] [1913 Webster]