In 1877, Charles Hebard and Edward Thurber purchased a large tract of land on Keweenaw Point, favored especially for its deep, protected harbor and easy access to timber. The mill began its operations with a capital of $200,000, with stock owned mostly by the Hebard and Thurber families. The mill site was initially leased from David King, Chief of the local Chippewa tribe, and then purchased from his heirs after his death. The company purchased the town site from Mrs. Eliza Bennett in 1877.