The Collaborative International Dictionary of English v.0.48:

Founder \Found"er\, n. [From Found to cast.]
   One who founds; one who casts metals in various forms; a
   caster; as, a founder of cannon, bells, hardware, or types.
   [1913 Webster]

   Fonder's dust. Same as Facing, 4.

   Founder's sand, a kind of sand suitable for purposes of
      molding.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Founder \Found"er\, v. i. [imp. & p. p. Foundered; p. pr. &
   vb. n. Foundering.] [OF. fondrer to fall in, cf. F.
   s'effondrer, fr. fond bottom, L. fundus. See Found to
   establish.]
   1. (Naut.) To become filled with water, and sink, as a ship.
      [1913 Webster]

   2. To fall; to stumble and go lame, as a horse.
      [1913 Webster]

            For which his horse fear['e] gan to turn,
            And leep aside, and foundrede as he leep. --Chaucer.
      [1913 Webster]

   3. To fail; to miscarry. "All his tricks founder." --Shak.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Founder \Found"er\, v. t.
   To cause internal inflammation and soreness in the feet or
   limbs of (a horse), so as to disable or lame him.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Founder \Found"er\, n. (Far.)
   (a) A lameness in the foot of a horse, occasioned by
       inflammation; closh.
   (b) An inflammatory fever of the body, or acute rheumatism;
       as, chest founder. See Chest ffounder. --James White.
       [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Founder \Found"er\, n. [Cf. OF. fondeor, F. fondateur, L.
   fundator.]
   One who founds, establishes, and erects; one who lays a
   foundation; an author; one from whom anything originates; one
   who endows.
   [1913 Webster]

WordNet (r) 3.0 (2006):

founder
    n 1: inflammation of the laminated tissue that attaches the hoof
         to the foot of a horse [syn: laminitis, founder]
    2: a person who founds or establishes some institution; "George
       Washington is the father of his country" [syn: founder,
       beginner, founding father, father]
    3: a worker who makes metal castings
    v 1: fail utterly; collapse; "The project foundered" [syn: fall
         through, fall flat, founder, flop]
    2: sink below the surface
    3: break down, literally or metaphorically; "The wall
       collapsed"; "The business collapsed"; "The dam broke"; "The
       roof collapsed"; "The wall gave in"; "The roof finally gave
       under the weight of the ice" [syn: collapse, fall in,
       cave in, give, give way, break, founder]
    4: stumble and nearly fall; "the horses foundered"