The Collaborative International Dictionary of English v.0.48:

Whelky \Whelk"y\, a.
   [1913 Webster]
   1. Having whelks, ridges, or protuberances; hence, streaked;
      striated.
      [1913 Webster]

   2. Shelly. "Whelky pearls." --Spenser.
      [1913 Webster]