Hey Roy,
I can tell you a little about that.
That is the reason Ed Piper had his camp at the base of Weaver's Needle. He too believed there was a treasure hidden IN it.
There is a legend (I can't recall all the specifics of where I read it, or the details of the legend), that says there is either a mine or treasure cache at or near the top. Ed Piper (or his guys) supposedly had found very old lengths of rope and mining tools near the top of the Needle. His hunting area was one of the main reasons for his conflicts with Celeste Jones (they both believed in a Jesuit Treasure hidden in the Needle), that led to Ed Piper shooting and killing Robert Ste. Marie (one of Celeste Jones' Compadres). Oh, Ed Piper was the first one there, and he had active claims, while Celeste Jones believed in her Divine Inspiration, and right of possession. A few more shootings later, Ed Piper died of cancer in 1962, and Celeste Jones left the are about a year later. Nobody knows where she came from (most think Los Angeles), and nobody knows where she went to when she left Arizona.
Best,
Mike