tank won't take air ??

Submersible pump keeps about ten lbs. of water pressure in the tank and will not go any higher and will not shut off. When we try to add air to the galvanized tank (with the tank completly empty of water) we only get 10 lbs. of air pressure and we can hear air bubbling down the well. I understand this could be a leak in the pipe or a check valve not working, but can this happen if the water table has dropped? My question is should we try to add a section of pipe to drop the pump deeper or are the bubbles a sure indicator of one of the other possible problems meaning we need to pull the pump. I am in Texas and we are in a drought. Thanks for your time, Lynn.

If you have an airmaker system the air could be coming out the bleeders if the check valve is bad. If this is the case replace it first.

The water table can be measured and compared to the depth of your pump.

It is perhaps just as likely that you have a leak in the drop pipe.

Thanks for the quick response. We will be pulling the pump tomorrow, Lynn.