This short story became possibly H.P. Lovecraft's favorite. Lots of things and possibilities going on here. A meteorite has crashed near a small farm west of Arkham, Massachusetts and strange things begin to happen. The life force seems to be being drained from living organisms near the well. The story is being told by a surveyor who is surveying the area prior to a damn being built that will flood the area with a lake. The potential problem is, the "thing" lives in the water of the well.
The Colour Out of Space (Unacquainted)
...although generally well read, the reader continually mispronounces Arkham!!