Hi, This is my first post. I have a few ideas for you to think about. The construction looks to me like a stone wall as opposed to a cellar, that could support a structure. In New England, an abundance of stones facilitated their use in several different ways. Wood was not as abundant in colonial times as we might think. The largest, straightest trees were claimed and marked with the kings arrow, while lesser trees were used up in private and public buildings, Any remaining woods were consumed for fuel, furnishings, etc.
Vast areas of land were cleared for farming and livestock. While removing stones to create areas of tillable soil, the stones were turned into the walls that New England is famous for. In order to keep the growing numbers of livestock from ruining the crops, stone pens were constructed. Local governments also built livestock pens known as "Town pounds", to keep straying animals in until they could be claimed,(often for a small fee).
Being from southern Maine originally, I can see you have a great spot there! TAKE IT REAL SLOW. As for the rock carving, all I can say is WoW! As I look at the pic, it seems like I could pull out that stone to the left of the R, revealing a long hidden cache. Sorry! After 36 yrs. in this hobby, my imagination is pretty vivid. Treasure is right where you find it, so never ignore any spots during your hunts. I would guess that all of us would detect around that rock, but, would all of us actually scan the rock itself? I have found many coins wedged in the crevices of large rocks and ledges.
Well, sorry for the long post, But this is the greatest hobby ever, and I love talking about it.