Also known as the Rua das Oliveiras Fountain, it replaced an 18th century fountain. It was supplied by the Salgueiros Spring and on the elevation of the building that houses it is the "Entrada das Oliverias", providing access to the tunnel common to the Paranhos and Salgueiros springs, which then continued to Praça de Carlos Alberto, feeding two fountains, including the Animal Protection Society's drinking fountain preserved in Parque das Águas.
