The "true story" of baseball great Babe Ruth; Ruth plays himself.

Professional thief Joe Grim is killing time in New York City's Central Park before he robs the Wall Street subtreasury. He spots pretty young Laura White on a runaway horse. He manages to rescue her. Falling for her, he tries to steal a photo of her but is discovered and held at gunpoint by Laura's friend Countess Briand--who, unbeknownst to Laura, is actually the head of a German spy ring, among whose members if Laura's fiance Karl Richter. The countess convinces Joe to steal plane for a new airplane by telling Joe that they're papers that are being used to blackmail Laura. But things don't go exactly as planned.

Cyrus Baird is trying to force his daughter to marry Ethelbert Granger, wealthy but effeminate. She meets and falls in love with James Morton, nephew of Baird's pet enemy. Ethelbert takes the Bairds to cruise in the houseboat of Max Rupholdt, who has a mine layer concealed in the innocent looking craft. Morton, suspected of disloyalty, penetrates Max's secret and rescues the girl just before the fleeing spy meets extermination through one of his own mines.