My first guess would be that a woman in Arkansas called Chaney simply had been given the surname Chaney as her middle name. I think you should check out if she was related to or if her parents lived near anyone who had Chaney as a last name.
http://www.surnamedb.com/Surname/Chaney
The surname Chaney certainly existed in Arkansas:
http://www.ccchaney.com/chaney/chanbros.htm
http://arkansasgravestones.org/cemetery.php?cemID=2179
http://bchaney.tripod.com/ultimate/d0/i0000345.htm