Just pulled by copy of Thomas P. Terry's "Treasure Map Atlas", c. 1974. Includes this as:
"28 A treasure cache was buried under marked cedar trees in the area of Laurel Hill in Clackamas County."
Terry also notes:
"15 $46,000 in bandit loot is located on Laurel Hill." I believe this reference was for a cache by a group of horsethiefs who buried their money while being pursued by angry early pioneers. In the 1850-1870 period, stealing a horse was nearly equivalent to killing a man, and early horsethieves were summarily hung.
Terry is vague here, with references to 14-15-16 in the same area with similar amounts supposedly concealed:
"14 Outlaws buried $85,000 in Hood River County.
15 $46,000 in bandit loot is located on Laurel Hill.
16 Outlaw loot is buried at Horse Thief Meadows in the Mt. Hood area. $35,000 in gold coins is cached at Barlow Pass."
Sounds like different versions of the same story. With no name mentioned to research further, best to go back to original sources. I think Ruby El Hult in "Lost Mines and Treasures of the Pacific Northwest" has the best research.