The Collaborative International Dictionary of English v.0.48:

Spin \Spin\ (sp[i^]n), v. t. [imp. & p. p. Spun(Archaic imp.
   Span); p. pr. & vb. n. Spinning.] [AS. spinnan; akin to
   D. & G. spinnen, Icel. & Sw. spinna, Dan. spinde, Goth.
   spinnan, and probably to E. span. [root]170. Cf. Span, v.
   t., Spider.]
   1. To draw out, and twist into threads, either by the hand or
      machinery; as, to spin wool, cotton, or flax; to spin
      goat's hair; to produce by drawing out and twisting a
      fibrous material.
      [1913 Webster]

            All the yarn she [Penelope] spun in Ulysses' absence
            did but fill Ithaca full of moths.    --Shak.
      [1913 Webster]

   2. To draw out tediously; to form by a slow process, or by
      degrees; to extend to a great length; -- with out; as, to
      spin out large volumes on a subject.
      [1913 Webster]

            Do you mean that story is tediously spun out?
                                                  --Sheridan.
      [1913 Webster]

   3. To protract; to spend by delays; as, to spin out the day
      in idleness.
      [1913 Webster]

            By one delay after another they spin out their whole
            lives.                                --L'Estrange.
      [1913 Webster]

   4. To cause to turn round rapidly; to whirl; to twirl; as, to
      spin a top.
      [1913 Webster]

   5. To form (a web, a cocoon, silk, or the like) from threads
      produced by the extrusion of a viscid, transparent liquid,
      which hardens on coming into contact with the air; -- said
      of the spider, the silkworm, etc.
      [1913 Webster]

   6. (Mech.) To shape, as malleable sheet metal, into a hollow
      form, by bending or buckling it by pressing against it
      with a smooth hand tool or roller while the metal
      revolves, as in a lathe.
      [1913 Webster]

   To spin a yarn (Naut.), to tell a story, esp. a long or
      fabulous tale.

   To spin hay (Mil.), to twist it into ropes for convenient
      carriage on an expedition.

   To spin street yarn, to gad about gossiping. [Collog.]
      [1913 Webster]