The pond is still there and the story is still known locally. You can find it on Rt 7A north out of Manchester and into Dorset. You'll pass the cemetery where Marsh is buried on the left and the Marsh house is the next house on the right.
William Marsh helped create te state of Vermont and was associated with the Green Mountain Boys. He was a colonel in the "rebel" militia, supporting the seizure of Fort Ticonderoga, and hosting the American general Arthur St. Claire on his retreat from Ticonderoga in 1777. He changed sides shortly after. He settled in Sidney, (now) Ontario, but by 1794 he was back on his farm in Dorset,VT to stay.