Soon after locating here the Smiths, father and son, were employed by Clark Chase to dig a well. While engaged in this work, a white, glossy pebble, resembling a human foot in shape, was found. The future prophet kept the pebble and soon pretended to have discovered that it possessed supernatural powers. In the pebble he claimed to discern happenings in distant places and to read the course of future events. This pebble became known as the "peek stone," although Smith was the only one who could make it do tricks, which was evidence enough to him that he was the destined prophet.

Near the Smith home was a hill and, according to rumor, hidden treasure was buried therein. This rumor was told to the credulous Smiths by Oliver Cowdery, a school teacher residing on Stafford Street. Young Joseph immediately consulted his peek stone in order to locate the treasure.