Boston Post Newspaper Article - Issued September 4th 1866
Newspaper: Boston Post Date Published: Sunday, September 4th, 1866 Page(s) appearing: Cover Page
Something of a romance is related by a Herald correspondent writing from Nova Scotia.
Sometime since an old cosmopolite thereabouts admitted on his death bed that he had been one of Captain Kidd’s rovers, and that he assisted in burying $4,000,000 of gold on an island east of Boston.
For years all the islands along the coast were searched, but no buried treasure found. Some twenty-five years later three men took up land on Oak Island. While exploring, one of these men found evidence of former civilization, among other things a curious old pit, with a floor of oak logs, but not the treasure.
Fifteen more years passed by, and a company took hold of the pit, going down a depth of ninety feet and through several floors, and at last were driven out by the water. Fifteen more years go by – coming down to 1848, when another association is formed, and the pit worked. Shaft after shaft is sunk and the toilers bore through more oak, and a substance of a metallic nature, taking out the hoop of a barrel in good preservation. But they finally despair, but not till they had found drains from the beach apparently connecting with the pit. These were explored and found to be well arched and covered with Spanish grass. In the winter the work was abandoned.
In 1861 another company was formed with a capital of $2000, to explore the “money pit.” New tunnels were run, shafts sunk, &c., but nothing found. The stock was increased and as a last resort they are now building a dam round the base of the island for the purpose of cutting off the bay water from the channels. The company now comprises some of the most influential men in Halifax, and it is estimated that fully $100,000 have been expended already upon the search, but they are determined to solve the mystery if it costs as much more.