Green’s Dictionary of Slang

empty adj.

1. (UK Und.) of a person or place, not worth robbing.

[UK]New Canting Dict. n.p.: empty as, The Cull looks Empty; or, ’Tis all Empty: A Canting Word to signify, by an Intelligencer, that the Person or House has not the Riches reported, or is not worth attempting.
[UK]Bailey Universal Etym. Eng. Dict. [as cit. 1725].

2. (US) penniless, broke.

[US]H.A. Smith Rhubarb 8: ‘How you fixed now?’ Eric asked him. ‘Empty,’ said Doom gloomily.
[US](con. 1950s) Durocher & Linn Nice Guys Finish Last 315: ‘Man [...] I’m empty.’ He’d pull out his pockets. ‘I’m empty.’.

SE in slang uses

In compounds

empty bottle (n.)

(UK campus) at Cambridge University, a fellow-commoner, i.e. a rich or aristocratic undergraduate, with special privileges and a reputation for self-indulgent laziness.

[UK]‘A Pembrochian’ Gradus ad Cantabrigiam 63: Fellow Commoners have been nick-named ‘Empty Bottles!’ They have been called, likewise ‘Useless Members’.
[US]C.A. Bristed Five Years in an Eng. University 34: They are popularly denominated ‘empty bottles,’ the first word of the appellation being an adjective, though were it taken as a verb there would be no untruth in it.
[US]B.H. Hall College Words (rev. edn) 177: At the University of Cambridge, Eng., the sobriquet of a fellow-commoner.
empty suit (n.)

(US) a useless or insincere person.

D. Jenkins Dogged Victims 135: ‘I knew all the rich guys [...] Most of ’em were empty suits’.
[US]H. Gould Fort Apache, The Bronx 87: He’s an empty suit, don’t even think about him.
D. Brock Real Anita Hill 62: [...] which had the effect of presenting [Clarence] Thomas as something of an empty suit.
K.D. Cramer When Faster Harder Smarter Is Not Enough 34: But don’t get me wrong—I am not going soft, and I certainly don’t want to evolve into a jelly roll, or a spineless empty suit.
[US]H. Hill A Good Fella’s Guide To N.Y. 161: An ‘empty suit’ or ‘jack-off’ was the mobster wanna-be, the guy that just hung around us to feel cool. We were; he wasn’t.

In phrases

empty house is better than a bad tenant

(N.Z.) a phr. used after breaking wind in public.

used by Jane Morison, Havelock (Marlborough): ‘An empty house is better than a bad tenant.’ (Ed.) [DNZE].
[NZ]H. Beaton Outside In I i: Better an empty house than a bad tenant.
[NZ] McGill Reed Dict. of N.Z. Sl.
empty in the upper storey (adj.)

mentally inadequate.

[UK]Lincs. Chron. 22 Aug. 4/4: A certain country fellow [...] who was rather ’empty in the upper storey’.