 Frustrated with Hulbert’s lack of success, the company sent Alexander Agassiz, son of famous geologist Louis Agassiz, to Michigan to run the mine.Under Agassiz’ expert management, the Hecla company paid its first dividend in 1868, and the Calumet company began paying dividends in 1869.The two companies merged in May 1871 to form the Calumet & Hecla Mining Company, with Quincy Adams Shaw as its first president.