The Collaborative International Dictionary of English v.0.48:

Wany \Wan"y\, v. i.
   To wane. [Obs.] --Chaucer.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Wany \Wan"y\, a.
   1. Waning or diminished in some parts; not of uniform size
      throughout; -- said especially of sawed boards or timber
      when tapering or uneven, from being cut too near the
      outside of the log.
      [1913 Webster]

   2. Spoiled by wet; -- said of timber. --Halliwell.
      [1913 Webster]