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Crackerjack tells the story of Jack Drake (Tom Walls), who is seemingly an ordinary, foppish member of England's idle rich, a true ne'er-do-well. He has a secret, however (actually, several) -- the first being a heart of gold and a social conscience, which motivate him to help the less fortunate; the second is an array of special, stealthy skills that permit him to be a master thief, so masterful that he can even steal from other thieves without their knowledge. His exploits, attributed to a master thief known as "Crackerjack," are even chronicled in an anonymously authored bestseller entitled Crackerjack (which even the Scotland Yard superintendent is reading). Its royalties are all directed to a charity. As he explains to his valet/social secretary, Burdge (Charles Heslop -- the only person who knows his secret), he never steals from anyone who would actually miss the money in any material way, and he does it because they're "too mean to give it away themselves." He is also in love with the Baroness Von Haltz (Lilli Palmer) and the two interests converge at a costume party thrown by Mrs. Humbold (Muriel George) -- he plans to court the baroness and steal the Humbold pearls. But all plans of romance are swept aside when the quartet of American entertainers at the party turn out to be armed robbers who kill one of the guests. Now a cat-and-mouse game ensues: Crackerjack on the one side trying to steer Scotland Yard to the American gang, the gang trying to get a line on Crackerjack to get the Humboldt pearls, and Scotland Yard caught between them, and on top of that, baroness is in jeopardy.