helve n.

Old English hælfter "rope for leading a horse," from Proto-Germanic *halftra- "that by which something is held" (source also of Old Saxon haliftra "halter," Old High German halftra, Middle Dutch halfter), from suffixed form of PIE *kelp- "to hold, grasp" (see helve). Also "hangman's noose" (mid-15c.). In women's clothing sense, originally "strap attached to the top of a backless bodice and looped around the neck," 1935, later extended to the tops themselves.

"instrument by which a ship is steered," from Old English helma "rudder; position of guidance, control," from Proto-Germanic *helmaz (source also of Old Norse hjalm, Old High German helmo, German Helm "handle"), from PIE *kelp- "to hold, grasp" (see helve).

Helm - the handle or tiller, in large ships the wheel, by which the runner is managed; the word is sometimes used with reference to the whole stearing [sic]-gear.

Rudder - that part of the helm which consists of a broad piece of timber, enters the water, and is governed by means of the wheel or tiller.

Tiller - the bar or lever by means of which the rudder of a ship or boat is turned.

[J.H.A. Günther, "English Synonyms Explained & Illustrated," Groningen, 1904]