Depress, v. t. [imp. & p. p. Depressed; p. pr. & vb. n. Depressing.] — Webster enters it under “depress”
Etymology: [L. depressus, p. p. of deprimere; de- + premere to press. See Press.]
1. To press down; to cause to sink; to let fall; to lower; as, to depress the muzzle of a gun; to depress the eyes. "With lips depressed." Tennyson.
2. To bring down or humble; to abase, as pride.
3. To cast a gloom upon; to sadden; as, his spirits were depressed.
4. To lessen the activity of; to make dull; embarrass, as trade, commerce, etc.
4 more senses
5. To lessen in price; to cause to decline in value; to cheapen; to depreciate.
6. (Math.)
To reduce (an equation) in a lower degree. To depress the pole (Naut.), to cause the sidereal pole to appear lower or nearer the horizon, as by sailing toward the equator.
Syn. -- To sink; lower; abase; cast down; deject; humble; degrade; dispirit; discourage.
1 other Webster entry under this spelling
Depress, a.
Having the middle lower than the border; concave. [Obs.] If the seal be depress or hollow. Hammond.
Shades of meaning
Fernald lists depressing only as an antonym, under delightful.
He lists it without comment; the entries above explain its neighbors.