Weatherly borough's application for a license to construct a hydroelectric plant at the Francis E. Walter Dam on the Lehigh River in Carbon and Luzerne counties has been denied by the Federal Energy Regulatory Commission. The denial was mentioned without comment by the Carbon County Commissioners at their meeting in Jim Thorpe. The application was filed Feb. 28, 1983. Weatherly's proposed power project, the federal commission said, is not compatible with the proposed modifications by the U.S. Army Corps of Engineers.