In Holloway, depressed (3)
I believe the answer is:
low
'depressed' is the definition.
(I've seen this before)
'in holloway' is the wordplay.
'in' indicates a hidden word.
'LOW' can be found hidden inside 'holloway'.
(Other definitions for low that I've seen before include "Unimportant sort of owl" , "SECOND PART OF 14" , "Make a cow-like noise" , "Humble; dejected" , "Inferior, cow's call" .)