The Collaborative International Dictionary of English v.0.48:

Waft \Waft\, n.
   1. A wave or current of wind. "Everywaft of the air."
      --Longfellow.
      [1913 Webster]

            In this dire season, oft the whirlwind's wing
            Sweeps up the burden of whole wintry plains
            In one wide waft.                     --Thomson.
      [1913 Webster]

   2. A signal made by waving something, as a flag, in the air.
      [1913 Webster]

   3. An unpleasant flavor. [Obs.]
      [1913 Webster]

   4. (Naut.) A knot, or stop, in the middle of a flag. [Written
      also wheft.]
      [1913 Webster]

   Note: A flag with a waft in it, when hoisted at the staff, or
         half way to the gaff, means, a man overboard; at the
         peak, a desire to communicate; at the masthead, "Recall
         boats."
         [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Wheft \Wheft\, n.
   1. (Naut.) See Waft, n., 4.
      [1913 Webster]

   2. (Naut.) A kind of streamer or flag used either as a
      signal, or at the masthead for ornament or to indicate the
      direction of the wind to aid in steering.
      [Webster 1913 Suppl.]