Ok boys, I will give my .02 worth on this one and side with Martin. Having spent many hours 4 wheeling in the Converse Basin in the early 90's, this story has only merit I believe due to a OHV trail that goes by the name "Shay Road". This is the old roadbed of the H-B Lumber Co. and the rotted ties are still in place. Off in the woods you can still see remnants of the logging ops including old donkey stacks, cables etc.
I read the article from which Lindsey began this thread from the Hume Lake News Vol. 60, Issue 4 from Winter 2006. The staff member mentioned is long gone as is the ranger and who knows about the picture.
In the winter of 93-94 several slides occured and washed out quite a bit of the old roadbed making it impassable when I wheeled it in the late summer of '94. Some of my buddies in Fresno went there this last fall and found they had to back out of the trail as more erosion has occured.
If anyone has the chance to see this part of the back country, I recommend it. It is rarely seen or touched by humans and the canyon is just as spectacular as Kings Canyon.
So we do know the the Shay existed (true) but is it still around? (myth).
Thanks for your time...