Source : Webster's Revised Unabridged Dictionary (1913)

Owl \Owl\, v. i. [imp. & p. p. {Owled}; p. pr. & vb. n.
   {Owling}.]
   1. To pry about; to prowl. [Prov. Eng.]

   2. To carry wool or sheep out of England. [Obs.]

   Note: This was formerly illegal, and was done chiefly by
         night.

   3. Hence, to carry on any contraband trade. [Eng.]

Owling \Owl"ing\, n. [From {Owl}, v. i.] (O. Eng. Law)
   The offense of transporting wool or sheep out of England
   contrary to the statute formerly existing. --Blackstone.