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From The Collaborative International Dictionary of English v.0.48:
Welaway \Wel"a*way\, interj. [OE. welaway, walaway, weilawey; wei wo! (Icel. vei) + la lo! (AS. l[=a]) + wei wo!; cf. AS. w[=a] l[=a] w[=a]. See Woe.] Alas! [Obs.] [1913 Webster] Then welaway, for she undone was clean. --Wyatt. [1913 Webster]