Gilbert Hedden
Gilbert Dayton Hedden, Sr. (April 6, 1897 – September 14, 1974) was an American industrialist, politician and treasure hunter. He was Mayor of Chatham Borough, New Jersey from 1934 to 1938 and is most notable today for the progress he made in the 1930s towards solving the Oak Island treasure mystery, described as the costliest treasure hunt ever. Biography. In 1919, he became vice president and general manager of the Hedden Iron Construction Company in Hillside, New Jersey. They were fabricators and erectors of structural steel. On the sale in 1931 of the business to Bethlehem Steel Company, he  became plant manager of the "Hedden" works. On May 8, 1928, he read an article on Oak Island in "The New York Times Magazine." Hedden was fascinated by the story and determined to purchase the island and search for the treasure. He spent much of his fortune in search of the treasure. His search lasted from 1934 to 1936, when he helped arrange for New York University engineering professor Edwin Hamilton to take over. Hedden bought the east end of the island in 1935 and attempted to drain the so-called Money Pit with a pump. His discoveries during the  search included finding an inscribed "H + O" stone, believed to be Knights Templer related, at Joudrey's Cove in 1936. Lives and vast amounts of wealth were lost. The treasure still remains, and other treasure hunters have since followed. Hedden is the most notable due to his large investments, engineering background, and early discoveries.