▁A ctor ▁John ▁Wayne ▁also ▁inv ested ▁in ▁the ▁dr illing ▁equipment ▁used ▁on ▁the ▁island ▁and ▁offered ▁his ▁equipment ▁to ▁be ▁used ▁to ▁help ▁solve ▁the ▁mystery . ▁William ▁Vincent ▁Ast or , ▁he ir ▁to ▁the ▁Ast or ▁family ▁fortune ▁after ▁his ▁father ▁died ▁on ▁the ▁T itan ic , ▁was ▁a ▁pass ive ▁invest or ▁in ▁dig ging ▁for ▁tre asure ▁on ▁the ▁island . ▁ ▁R ear ▁Admir al ▁Richard ▁E . ▁By rd , ▁Jr . ▁was ▁also ▁a ▁pass ive ▁invest or ▁in ▁Oak ▁Island ▁expl oration ▁and ▁tre asure ▁hunting , ▁and ▁monitor ed ▁their ▁status . ▁By rd ▁ad vised ▁Franklin ▁D . ▁Ro ose vel t ▁about ▁the ▁island ; ▁the ▁men ▁for ged ▁a ▁relationship , ▁forming ▁the ▁United ▁States ▁Ant ar ctic ▁Service ▁( US AS , ▁a ▁federal - g overn ment ▁program ) ▁with ▁By rd ▁nomin ally ▁in ▁command . ▁ ▁The ories ▁ ▁Natural ▁sink hol es ▁W ide - r anging ▁spec ulation ▁exists ▁about ▁how ▁the ▁pit ▁was ▁formed ▁and ▁what ▁it ▁might ▁contain . ▁According ▁to ▁Joe ▁Nick ell , ▁there ▁is ▁no ▁tre asure ; ▁the ▁pit ▁is ▁a ▁natural ▁phenomen on , ▁probably ▁a ▁sink hole ▁connected ▁to ▁lim estone ▁pass ages ▁or ▁ca ver ns . ▁S ugg estions ▁that ▁the ▁pit ▁is ▁a ▁natural ▁phenomen on ▁( acc um ulated ▁de br is ▁in ▁a ▁sink hole ▁or ▁ge ological ▁fault ) ▁date ▁to ▁at ▁least ▁ 1 9 1 1