"Happy" MacDonald and his unfaithful wife own a Prohibition era night club. On this eventful night, he is threatened by bootleggers, and the club's star dancer falls in love with a young socialite who drinks to forget a personal tragedy, among other incidents.
Musical comedy antics in an art deco bakery (motto: "Glorifying the American Doughnut") where Eddie Cantor, the overworked assistant to a phony psychic, is mistaken for an efficiency expert and placed in charge. Complications ensue when the psychic and his gang attempt to rob the payroll.
Although free spirit Helen Bauer does not believe in marriage, she consents to marry Don, but his infidelities cause her to also take on a lover.
A drunken newspaperman, Jerry Corbett, is rescued from his alcoholic haze by an heiress, Joan Prentice, whose love sobers him up and encourages him to write a play, but he lapses back into dipsomania.
