An Etymological Dictionary of the German Language/Ort
Ort (1.), m., ‘awl,’ in this sense ModHG. only, and identical with Ort (2).
Ort (2.), m., ‘place, spot, region,’ from MidHG. ort, n. and m., ‘sharp point end, beginning, corner, angle, border, place,’ OHG. ort, m. and n., does not occur in the ModHG. sense of ‘place.’ The meaning ‘point, corner,’ is the orig one; comp. OSax. ord, m., ‘point,’ AS. and MidE. ord. ‘point of a weapon’ (for a similar evolution of meaning comp. Ecke. The r of the word originated in s, z; Goth. *uzda- is by chance not recorded; it is assumed by OIc. oddr, ‘point,’ the dd of which points to Goth. zd. In Ort (1) the earlier meaning is still dimly seen. See also Ort (3).
Ort (3.), n. and m., ‘quarter, quart,’ from MidHG. ort, m. and n., ‘fourth part of a measure, weight, or coin’; corresponding to Du. oord, ‘a fourth part of a coin, measure, &c.’ Identical with Ort (2). “This meaning is approximately derived from the square coins divided by a cross into pieces with four Orte, i.e., ‘corners,’ and afterwards transferred to measure and weight. Thus in Germany and Austria, when, in the year 1849, the florin notes were divided into four parts to serve as change, a single part was called Eckele or Örtel, ‘a little corner,’ and this expression was then generally used for a quarter of a florin.” The earlier assumption that this word was based on MidLat. quarto, ‘fourth part,’ must be rejected.