A local reputable driller in your area will have better answers than anyone else. We can get artesian flowing wells in many places where I am in NE Florida. it very well could be that old, the technology/capability was there. Id sure hate to know i had to drill a well like that with what they likely had to work with though. We have one close to 600' on our farm that was drilled in the mid-late 30's.. a well like that here has about 500' of casing set into the limestone of the floridan aquifer. a nearby river would have nothing to do with the water table or flow on a well that deep here.. its the natural pressure of that aquifer.
What you smell/taste is sulfur. the ones here are full of it too, 0 iron though. the water needs to be treated before running it in the house. we've used about every sulfur system I'm aware of (except chlorine injection.. no thanks). I currently use the water-right IMS unit. Its uses air injection to oxidize the water then centaur carbon to remove the sulfur and regenerates itself every so many gallons. its pretty much maintenance free, I like them so far. The carbon does have a lifespan and will need to be replaced one day.. aerator tanks with sprayers is the most common/simple sulfur treatment u see around here but require another pump/tank and nobody keeps them clean. I've seen some nasty stuff floating in those tanks.