Hyman Goldberger, the president of film studio Super-Colossal Pictures, is in trouble--his major backer is threatening to stop financing his pictures. He finds a group of six wealthy individuals who may want to become investors in the studio if his disgruntled backer pulls out. Unfortunately, his bumbling runner Albert picks that day to invite six of his street musician friends to be in the film that is currently shooting at the studio, and Hyman mistakes them for the potential investors. Complications ensue.

Archie Slott inherits a successful racing stable from his dissolute uncle, but his sanctimonious aunt tries to convince him to sell it off. In an attempt to avoid doing so, he accidentally buys a failing all-in wrestling stadium as well. Now Archie is faced with the tasks of ensuring success for his stable's Derby entry, paying the salaries of his newly-acquired wrestlers, and avoiding a plot to convert the stables into a holiday home.