The bottom fell out. Water rushed into the shafts and the bottom of the Money Pit dropped over 15 feet. Everything in the Money Pit had fallen farther down the hole. The big questions were why and how far?
Over the next several years different companies tried to crack the mystery unsuccessfully. They dug more shafts, tried to fill in the drain on the beach, built a new dam (which was destroyed by a storm), and drilled for more core samples. They met with little success.
The Cave-in Pit
In 1893 a man named Fred Blair along with a group called The Oak Island Treasure Company began their search. Their first task was to investigate the "Cave-in Pit". Discovered in 1878 about 350 feet east of the Money Pit, the cave-in pit appears to have been a shaft dug out by the designers of the Money Pit perhaps as a ventilation shaft for the digging of the flood tunnel. It apparently intersected or closely passed the flood tunnel. While it was being cleared by the Treasure Company it started to flood at a depth of 55 feet and was abandoned.
Over the next several years The Oak Island Treasure Company would dig more shafts, pump more water, and still get nowhere. In 1897 they did manage to clear out the Money Pit down to 111 feet where they actually saw the entrance of the flood tunnel temporarily stopped up with rocks. However, the water worked its way through again and filled the pit.
The treasure company then decided that they would attempt to seal off the flow of water from Smith's Cove by dynamiting the flood tunnel. Five charges were set off in holes drilled near the flood tunnel. They didn't work. The water flowed into the Money Pit as rapidly as ever.
At the same time a new set of core samples were drilled at the pit itself. The results were surprising.
At 126 feet, wood was struck and then iron. This material is probably part of the material that fell during the crash of the Pit. On other drillings the wood was encountered at 122 feet and the iron was missed completely indicating that the material may be laying in a haphazard way due to the fall.
Between 130 and 151 feet and also between 160 and 171 feet a blue clay was found which consisted of clay, sand, and water. This clay can be used to form a watertight seal and is probably the same "putty"; that was found at the 50 foot level of the Pit.
The major find was in the gap between the putty layers. A cement vault was discovered. The vault itself was 7 feet high with 7 inch thick walls. Inside the vault the drill first struck wood, then a void several inches high and an unknown substance. Next a layer of soft metal was reached, then almost 3 feet of metal pieces, and then more soft metal.
When the drill was brought back up another twist was added to the whole mystery. Attached to the auger was a small piece of sheepskin parchment with the letters "vi"; "ui"; or "wi"; What the parchment is a part of is still in question.
More convinced than ever that a great treasure was beneath the island, The Treasure Company began sinking more shafts in the attempts to get to the cement vault. They all met with failure due to flooding.
2nd Flood Tunnel
In May of 1899, yet another startling discovery was made. There was a second flood tunnel! This one was located in the South Shore Cove. The designers had been more ingenious and had done more work than previously thought. Though this find certainly strengthened the case that something valuable was buried below it didn't bring anyone closer to actually finding the treasure.
Blair and The Oak Island Treasure Company continued to sink new shafts and drill more core samples, but no progress was made and no new information obtained.
Between 1900 and 1936 several attempts were made to obtain the treasure. All met with no success.
In 1936 Gilbert Hadden, in conjunction with Fred Blair, began a new investigation of the island. Hadden cleared some of the earlier shafts near the Pit and made plans for exploratory drilling the next summer. However, he made two discoveries away from the Pit.
Fragment of Inscribed StoneThe first was a fragment of a stone bearing inscriptions similar to those found on the inscribed stone discovered at the 90 foot level of the Money Pit. The second discovery was of several old timbers in Smith's Cove. These timbers seem to have been from the original designers due to the fact that they were joined using wooden pins rather than metal. As will be seen later these timbers were only a small part of a much larger construction.
The next treasure hunter was Erwin Hamilton. He began his search in 1938 by clearing out previous shafts and doing some exploratory drilling. In 1939 during drilling two more discoveries were made. The first was the finding of rocks and gravel at 190 feet. According to Hamilton they were foreign and therefore placed there by someone. The second finding came after clearing out an earlier shaft down to 176 feet. At this point a layer of limestone was encountered and drilled through. The drilling brought up oak splinters. Apparently there was wood BELOW the natural limestone.
In 1959 Bob Restall and his family began their attack on the island which ultimately proved tragic.
His one discovery was made on the Smith's Cove beach while attempting to stop the drain system. He found a rock with "1704" inscribed on it. Though others believed it was prank left by a previous search team, Restall believed it was from the time of the original construction.
In 1965 tragedy struck. While excavating a shaft Bob passed out and fell into the water at the bottom. His son, Bobbie, attempted to rescue him as did two of the workers. All four apparently were overcome by some sort of gas, perhaps carbon monoxide from a generator, passed out and drowned.
Bob Dunfield was the next to take on the island. In 1965 he attempted to solve the problem with heavy machinery - bulldozers and cranes. He attempted to block the inflow of water at Smith's Cove, and may have succeeded. Then on the south side of the island an trench was dug in the hope of intercepting the other water tunnel and blocking it off. The flood tunnel wasn't found, but an unknown refilled shaft was found, possible one dug by the designers of the Pit. The shaft apparently went down to 45 and stopped, its purpose is unknown.
Dunfield's other findings were based on drilling. It was determined that at 140 feet there was a 2 foot thick layer of limestone and then a forty foot void. At the bottom of the void was bedrock. This information matched with a drilling done back in 1955. There seemed to a large, natural underground cavern, something apparently common with limestone around the world.
Daniel Blankenship, the current searcher, began his quest in 1965. In 1966 he dug out more of the original shaft found by Bob Dunfield in 1965. It turned out that the shaft did go beyond 45 feet. Blankenship found a hand-wrought nail and a washer at 60 feet. At 90 feet he met a layer of rocks in stagnant water. He assumed this was part of the south water tunnel but couldn't explore further because the shaft could not be stopped from caving in.
A pair of wrought-iron scissors were discovered in 1967 buried below the drains at Smith's Cove. It was determined that the scissors were Spanish-American, probably made in Mexico, and they were up to 300 years old. Also found was a heart shaped stone.
Smith's Cove revealed some more secrets in 1970 to Triton Alliance, a group formed by Blankenship to continue the search. While Triton was building a new cofferdam they discovered the remains of what appeared to be the original builders' cofferdam. The findings included several logs 2 feet thick and up to 65 feet long. They were marked every four feet with Roman numerals carved in them and some contained wooden pins or nails. The wood has been carbon dated to 250 years ago.
The western end of the island has also revealed several items. Two wooden structures, along with wrought-iron nails and metal straps were found at the western beach. Nine feet below the beach a pair of leather shoes were unearthed.
The next major discoveries came in 1976 when Triton dug what is known as Borehole 10-X, a 237 foot tube of steel sunk 180 feet northeast of the Money Pit. During the digging several apparently artificial cavities were found down to 230 feet (see: drilling results).
A camera lowered down to a bedrock cavity at 230 feet returned some amazing images. At first a severed hand could be seen floating in the water. Later three chests (of the treasure type I would presume) and various tools could be made out. Finally a human body was detected.
After seeing the images, the decision was made to send divers down for a look. Several attempts were made but strong current and poor visibility made it impossible to see anything.
Soon after the hole itself collapsed and has not been reopened.
Blankenship and Triton still continue the quest.