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The more I look into it, the more I'm convinced that it's just an urban legend of someone being killed on the ride back in the day.
But, man, check out these photos. Looks pretty rinky dink by today's standards. And it wasn't exactly designed to handle big crowds.
Top speed was 52 mph and the ride took 1:32.
Link.
Edit: A faithful reader sends along this site which has a great history of the ride including this: "The ride's intense turns and drops inevitably led to numerous urban legends, such as the train jumping the track and killing passengers. While nobody ever actually died from the ride, the exaggerated stories made riding Big Bend an even more thrilling experience and gave those who dared conquer the ride bragging rights. Such legends were likely the result of one real-life event where a passenger stood up during the ride and was promptly ejected."
