Blaine at 284, Sherman at 93, and the rest to minor candidates. Subsequent ballots followed, with roughly the same result; neither Grant nor Blaine could win. After thirty-six ballots, Blaine's delegates deserted him and combined with those of other candidates to nominate a compromise candidate: Representative and former Union general James A. Garfield of Ohio. A procedural motion made the vote unanimous for Garfield, who accepted the nomination. Grant gave speeches for Garfield but declined to criticize the Democratic nominee, Winfield Scott Hancock, a general who had served under him in the Army of the Potomac. Garfield won the election. Grant gave Garfield his public support and pushed him to include Stalwarts in his administration. On July 2, 1881, Garfield was shot by an assassin and died on September 19. On learning of Garfield's death from a reporter, Grant wept bitterly. Business failures In the 19th century, there were no federal presidential pensions, and the Grants' personal income was limited to $6,000 a year. Grant's world tour had been costly, and he had depleted most of his savings, while he needed to earn money and find a new home. Wealthy friends bought him a house on Manhattan's Upper East Side, and to make an income, Grant, Jay Gould, and former Mexican Finance Secretary Matías Romero chartered the Mexican Southern Railroad, with plans to build a railroad from Oaxaca to Mexico City. Grant urged Chester A. Arthur, who had succeeded Garfield as president in 1881, to negotiate a free trade treaty with Mexico. Arthur and the Mexican government agreed, but the United States Senate rejected the treaty in 1883. The railroad was similarly unsuccessful, falling into bankruptcy the following year. At the same time, Grant's son Buck had opened a Wall Street brokerage house with Ferdinand Ward—although a conniving man who swindled numerous wealthy men, Ward was at the time regarded as a rising star on Wall Street. The firm, Grant & Ward, was initially successful. In 1883, Grant joined the firm and invested $100,000 of his own money. Grant, however, warned Ward that if his firm engaged in government business he would dissolve their partnership. To encourage investment, Ward paid investors abnormally high interest, by pledging the company's securities on multiple loans in a process called rehypothecation, which would now be understood as a Ponzi scheme. Ward, in collusion with banker James D. Fish and kept secret from bank examiners,