Source : Webster's Revised Unabridged Dictionary (1913)

Gully \Gul"ly\, n.; pl. {Gullies}. [Formerly gullet.]
   1. A channel or hollow worn in the earth by a current of
      water; a short deep portion of a torrent's bed when dry.

   2. A grooved iron rail or tram plate. [Eng.]

   {Gully gut}, a glutton. [Obs.] --Chapman.

   {Gully hole}, the opening through which gutters discharge
      surface water.