Just read the thread that you started with your pump question. What you describe is a jack pump (at least that is what we called ours at home which sounds the same, complete with the bomb shelter). What I would like to point out though, is the procedure for abandoning your well, if you are choosing to do that. In your State, there may be a procedure to do this, which protects the ground water from surface contamination. In my State, a well is abandoned if not used for two years. It is filled with clay or clay/cement mixture, then capped and sealed with concrete. Its your ground water, so do as you feel is right if abandoning. Just know that surface water could contaminate your good water. My folks had a jack pump on a 500' well, and it required a 5HP motor to lift the water up that high. A rod goes down into the water in the well, where there is a head that has the plunger and valves. The rod lifts 6" and then drops for another 6" lift. It is similar to the old hand pumps in the way it works. To work there may have to be new leathers put on at the bottom end.