The Collaborative International Dictionary of English v.0.48:

Veer \Veer\, v. t.
   To direct to a different course; to turn; to wear; as, to
   veer, or wear, a vessel.
   [1913 Webster]

   To veer and haul (Naut.), to pull tight and slacken
      alternately. --Totten.

   To veer away or To veer out (Naut.), to let out; to
      slacken and let run; to pay out; as, to veer away the
      cable; to veer out a rope.
      [1913 Webster]