A newscaster gets demoted for exposing the town's criminal activities over the airwaves.

Harvey, the arrogant and spoiled son of an indulgent absentee-father, falls overboard from a transatlantic steamship and is rescued by a fishing vessel on the Grand Banks. Harvey fails to persuade them to take him ashore, nor convince the crew of his wealth. The captain offers him a low-paid job, until they return to port, as part of the crew that turns him into a mature, considerate young man.

In Vienna, a new jazz club featuring American trumpeter Buzzy Bellew threatens the existence of its neighbor, the Waltz Palace, run by Franz Strauss and featuring his granddaughter, singer Elsa. Smitten by Elsa, Buzzy hides his identity and association with the club -- whose owner intends to buy out the Palace property. When Elsa accidentally learns who Buzzy really is, it appears he may have to return to America alone.