The Collaborative International Dictionary
Dipsey \Dip"sey\, Dipsie \Dip"sie\, Dipsy \Dip"sy\, a. Deep-sea; as, a dipsey line; a dipsy lead. [Sailor's Cant]
Dipsey \Dip"sey\, Dipsie \Dip"sie\, Dipsy \Dip"sy\, n.
A sinker attached to a fishing line; also, a line having several branches, each with such a sinker, used in deep-sea fishing. [Local, U. S.]
(Naut.) A deep-sea lead. [Rare]