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The Collaborative International Dictionary of English v.0.48:

Demy \De*my"\, n.; pl. Demies. [See Demi-.] 1. A printing and a writing paper of particular sizes. See under Paper. [1913 Webster] 2. A half fellow at Magdalen College, Oxford. [Written also demi.] [1913 Webster] He was elected into Magdalen College as a demy; a term by which that society denominates those elsewhere called "scholars," young men who partake of the founder's benefaction, and succeed in their order to vacant fellowships. --Johnson. [1913 Webster]
The Collaborative International Dictionary of English v.0.48:

Demy \De*my"\, a. Pertaining to, or made of, the size of paper called demy; as, a demy book. [1913 Webster]