from
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]