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The "little lady" of the title is Anna Grey (Jane Gray), the hometown sweetheart of country boy Perry Carlyle (James Cooley). Heading off to Washington D.C. to take a job with the Treasury Department, Perry succumbs to the seductions of the Big City, forgetting all about poor Anna. He reaches his personal nadir when he becomes sexually involved with blonde vamp Ruth Jordan (Jane Fearnley), who lures Perry into a counterfeiting scheme. Fortunately, Anna shows up in D.C. just in time to save Perry from committing a big-time Federal offense. Little Gray Lady was written by Channing Pollock, author of the now-notorious theatrical disaster The House Beautiful (described by Dorothy Parker as "the play lousy").