The Collaborative International Dictionary of English v.0.48:

Allow \Al*low"\, v. t. [imp. & p. p. Allowed; p. pr. & vb. n.
   Allowing.] [OE. alouen, OF. alouer, aloer, aluer, F.
   allouer, fr. LL. allocare to admit as proved, to place, use;
   confused with OF. aloer, fr. L. allaudare to extol; ad +
   laudare to praise. See Local, and cf. Allocate, Laud.]
   1. To praise; to approve of; hence, to sanction. [Obs. or
      Archaic]
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            Ye allow the deeds of your fathers.   --Luke xi. 48.
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            We commend his pains, condemn his pride, allow his
            life, approve his learning.           --Fuller.
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   2. To like; to be suited or pleased with. [Obs.]
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            How allow you the model of these clothes?
                                                  --Massinger.
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   3. To sanction; to invest; to intrust. [Obs.]
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            Thou shalt be . . . allowed with absolute power.
                                                  --Shak.
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   4. To grant, give, admit, accord, afford, or yield; to let
      one have; as, to allow a servant his liberty; to allow a
      free passage; to allow one day for rest.
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            He was allowed about three hundred pounds a year.
                                                  --Macaulay.
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   5. To own or acknowledge; to accept as true; to concede; to
      accede to an opinion; as, to allow a right; to allow a
      claim; to allow the truth of a proposition.
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            I allow, with Mrs. Grundy and most moralists, that
            Miss Newcome's conduct . . . was highly
            reprehensible.                        --Thackeray.
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   6. To grant (something) as a deduction or an addition; esp.
      to abate or deduct; as, to allow a sum for leakage.
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   7. To grant license to; to permit; to consent to; as, to
      allow a son to be absent.
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   Syn: To allot; assign; bestow; concede; admit; permit;
        suffer; tolerate. See Permit.
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The Collaborative International Dictionary of English v.0.48:

Allow \Al*low"\, v. i.
   To admit; to concede; to make allowance or abatement.
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         Allowing still for the different ways of making it.
                                                  --Addison.
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   To allow of, to permit; to admit. --Shak.
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WordNet (r) 3.0 (2006):

allow
    v 1: make it possible through a specific action or lack of
         action for something to happen; "This permits the water to
         rush in"; "This sealed door won't allow the water come into
         the basement"; "This will permit the rain to run off" [syn:
         let, allow, permit] [ant: keep, prevent]
    2: consent to, give permission; "She permitted her son to visit
       her estranged husband"; "I won't let the police search her
       basement"; "I cannot allow you to see your exam" [syn:
       permit, allow, let, countenance] [ant: disallow,
       forbid, interdict, nix, prohibit, proscribe,
       veto]
    3: let have; "grant permission"; "Mandela was allowed few
       visitors in prison" [syn: allow, grant] [ant: deny,
       refuse]
    4: give or assign a resource to a particular person or cause; "I
       will earmark this money for your research"; "She sets aside
       time for meditation every day" [syn: allow, appropriate,
       earmark, set aside, reserve]
    5: make a possibility or provide opportunity for; permit to be
       attainable or cause to remain; "This leaves no room for
       improvement"; "The evidence allows only one conclusion";
       "allow for mistakes"; "leave lots of time for the trip";
       "This procedure provides for lots of leeway" [syn: leave,
       allow for, allow, provide]
    6: allow or plan for a certain possibility; concede the truth or
       validity of something; "I allow for this possibility"; "The
       seamstress planned for 5% shrinkage after the first wash"
       [syn: allow, take into account]
    7: afford possibility; "This problem admits of no solution";
       "This short story allows of several different
       interpretations" [syn: admit, allow]
    8: allow the other (baseball) team to score; "give up a run"
       [syn: give up, allow]
    9: grant as a discount or in exchange; "The camera store owner
       allowed me $50 on my old camera"
    10: allow the presence of or allow (an activity) without
        opposing or prohibiting; "We don't allow dogs here";
        "Children are not permitted beyond this point"; "We cannot
        tolerate smoking in the hospital" [syn: allow, permit,
        tolerate]