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Vallery Grove (Dolores Costello) may be high up the social ladder, but she hasn't a penny to her name thanks to her family's improvidence. Vallery is in love with Don Warren (Chester Morris), but he rejects her because of her present financial woes. Though she still loves Don, she marries Owen Mallory (Jack Mulhall) on the rebound, making her Mrs. Vallery Mallory (sounds like a joke on Laugh-In). Eventually Vallery realizes that Owen's the only man for her -- whereupon the fickle Don, now married himself, returns to the scene, demanding at gunpoint that Vallery dump her husband and return to him. The silliness of the plotline was forgotten by film fans in the light of the film's central gimmick: A revolving nightclub, which makes a complete 360-degree turn without mussing the hair of a single drunken patron.