Captain Ralls fights Dutch shipping magnate Mayrant Sidneye for the woman he loves, Angelique Desaix, and for a fortune in gold aboard the Red Witch.

With his sidekick Rusty, Jeff Harper sails to paradisiacal tropical isle Ahmi-Oni to bargain on behalf of his cattle baron father for land owned by transplanted Irishman Dennis O'Brien. But Jeff falls in love with O'Brien's daughter, Eileen, and even his father can't break them up after he arrives and himself falls under the spell of island splendor.

British diplomat Robert Conway and a small group of civilians crash land in the Himalayas, and are rescued by the people of the mysterious, Eden-like valley of Shangri-la. Protected by the mountains from the world outside, where the clouds of World War II are gathering, Shangri-la provides a seductive escape for the world-weary Conway.