The Collaborative International Dictionary of English v.0.48:

Newel \New"el\ (n[=u]"[e^]l), n. [From New. Cf. Novel.]
   A novelty; a new thing. [Obs.] --Spenser.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Newel \New"el\ (n[=u]"[e^]l), n. [OF. nual, F. noyau sone, of
   fruit, noyau d'escaler newel, fr. L. nucalis like a nut, fr.
   nux, nucis, nut. Cf. Nowel the inner wall of a mold,
   Nucleus.] (Arch.)
   The upright post about which the steps of a circular
   staircase wind; hence, in stairs having straight flights, the
   principal post at the foot of a staircase, or the secondary
   ones at the landings. Also called newel post. See Hollow
   newel, under Hollow.
   [1913 Webster]

WordNet (r) 3.0 (2006):

newel
    n 1: the post at the top or bottom of a flight of stairs; it
         supports the handrail [syn: newel post, newel]
    2: the central pillar of a circular staircase