From The Collaborative International Dictionary of English v.0.48 [gcide]:
Balcony \Bal"co*ny\ (b[a^]l"k[-o]*n[y^]; 277), n.; pl.
Balconies (b[a^]l"k[-o]*n[i^]z). [It. balcone; cf. It.
balco, palco, scaffold, fr. OHG. balcho, palcho, beam, G.
balken. See Balk beam.]
1. (Arch.) A platform projecting from the wall of a building,
usually resting on brackets or consoles, and inclosed by a
parapet; as, a balcony in front of a window. Also, a
projecting gallery in places of amusement; as, the balcony
in a theater.
[1913 Webster]
2. A projecting gallery once common at the stern of large
ships.
[1913 Webster]
Note: "The accent has shifted from the second to the first
syllable within these twenty years." --Smart (1836).
[1913 Webster]