Skeptical Inquirer Volume 24.2, March / April 2000
https://www.csicop.org/si/show/secrets_of_oak_island
' . . . Doubts begin with the reported discovery in 1795 of the treasure shaft itself. While some accounts say that the trio of youths spied an old ship's pulley hanging from a branch over a depression in the ground (Harris 1958, 6-8), that is “likely an apocryphal detail added to the story later” and based on the assumption that some sort of lowering device would have been necessary in depositing the treasure (O'Connor 1988, 4). Nevertheless some authors are remarkably specific about the features, one noting that the “old tackle block” was attached to “a large forked branch” of an oak “by means of a treenail connecting the fork in a small triangle" (Crooker 1978, 17). Another account (cited in Finnan 1997, 28) further claims there were “strange markings” carved on the tree.
On the other hand, perhaps realizing that pirates or other treasure hoarders would have been unlikely to betray their secret work by leaving such an obvious indicator in place, some versions of the tale agree that the limb “had been sawed off” but that “the stump showed evidence of ropes and tackle” (Randle 1995, 75). . . '