Blue papers, indeed! (9)
I believe the answer is:
depressed
'blue' is the definition.
(I know that blue can be written as depressed)
'papers indeed' is the wordplay.
I cannot quite understand how this works, but
'papers' could be 'press' (the newspaper industry) and 'press' is located in the answer.
The remaining letters 'deed' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for depressed that I've seen before include "Indented or melancholy" , "Sad or indented" , "Flattened downward" , "Unhappy, despondent" , "Poverty-stricken" .)