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elm (n.)

Old English elm, from Proto-Germanic *elmaz (source also of Danish elm, Old Norse almr, Old High German elme), perhaps from PIE root *el- (2) "red, brown" (see elk); cognate with Latin ulmus, Old Irish lem. German Ulme, Dutch olm are from or influenced by the Latin word. The toughest native European wood, used for ship-building, wheel-naves, etc. Middle English had adjective forms elmen, elmin, which survived longer in poetry. New Haven was informally the Elm City (1871).

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Definitions of elm from WordNet

elm (n.)
any of various trees of the genus Ulmus: important timber or shade trees;
Synonyms: elm tree
elm (n.)
hard tough wood of an elm tree; used for e.g. implements and furniture;
Synonyms: elmwood
From wordnet.princeton.edu