William Ignatius Newton, a charmingly worthless young man, inherits a car, a dime, and a valet from his millionaire father, then sets out to learn about life. However, the elder Newton is still alive and has commissioned female detective Hazel Dawn to monitor William's activities, in the hope that the experience will make a man of him. When William decides to incorporate himself, criminals Tombstone Reilly and Obituary Blake, who know the truth about Mr. Newton, attempt to become majority stockholders. However, they encounter fierce competition from an aging spinster, who hopes to land a young husband. Upon learning of his father's deceit, William embarks on a series of misadventures as he and Hazel attempt to outwit their adversaries. William emerges victorious after a fight on the roof of a fifteen-story building.—AFI