Gordon Lightfoot in “If You Could Read My Mind”… mentions an “old time movie, about a ghost from a wishing well”. (meaning something sad and gloomy)
Unfortunately there are no old-time movies about ghosts in wishing wells. Someone looked this up and the only thing that comes close is a goofy Abbot & Costello movie that would hardly be the inspiration for the song.
It’s too bad that there isn’t a real “ghost in a wishing well” movie. Someone should make one.