This [story] was told to me several years ago by the late Miss Luxmore, of Okehampton, who was the joint owner of the park, and describes how a man and his wife having lost their way when riding over this part of the moor, presumably led astray by the pixies, recovered it on reaching the well, thus justifying the lady's opinion, previously expressed, that they would only do so on finding water. It is fortunate that when they reached the pool it was not as it is said to have been in the month of September, 1676, when, in consequence of the dry summer, no water was to be seen there. In this state it is not infrequently found today. Its name connects it with the Fitz family, to whom the manor of Meldon once belonged. Like many other wells it probably had miraculous powers ascribed to it, and was formerly visited by the youths and maidens in the neighbourhood on the morning of Easter Day.
From William Crossing's Guide To Dartmoor (2nd Ed 1912).