Dwight Stanford and his wife, Penny, are a pair of spendthrifts who can't hold on to money, dependent for support on Dwight's rich uncle, who sends them a monthly allowance. Conrad Norris, Dwight's cousin, disapproves of Dwight and Penny, and resents his uncle's generosity. The uncle is the victim of a hit-and-run accident and, there being no will, Conrad, as next of kin, inherits. Switch, the uncle's lawyer, tells Dwight he is shutout with no hope of appeal. Dwight starts writing mystery novels about a fictional detective named Steven Knight, which become instant hits and the money pours in.

J. Ward Thomas of Park Avenue leads a double life as an investment broker and as notorious gambler Spade Martin, despite the protests of his beautiful wife Natalie, a nightclub singer who retired when they married. Spade's younger brother "Chick" wires Spade from Seattle that he has quit gambling for a job in real estate and is about to marry a nice girl named Betty. Relieved to find his kid brother is straight, Spade sends him $10,000 cash as a wedding present. When a woman posing as a pregnant wife comes to Spade for a loan, Spade gives it to her. Later, when Steve Burdick, the woman's supposed husband, brags in a bar that he made a fool of Spade, Spade's hit man, Trigger, kills Burdick. Tired of Spade's gambling, Natalie books a return engagement at Cafe Nocturne, telling him that she is a singer rather than a wife now.