Two down-on-their-luck loafers take a job babysitting, with a bedtime story of the titular tale turning into a wacky Abbott and Costello-faced musical retelling involving stolen cows, terrible giants, and the heroic boy with an opportunistic butcher in a castle above the clouds.
The new warden of a large American harbor raises the hackles of sailors and fishermen by his strict enforcement of all the safety rules. He takes the time, though, to romance the sister of his biggest rival.
A wealthy socialite, Claire Rutherford (Beatrice Touzeau), visits her former lover, Tony Iredale (James Alexander), one night. The next day Tony is arrested for the murder of a bookmaker the night before.
Bud and Lou are unemployed actors living in Mr. Fields’ boarding house. Lou’s girlfriend Hillary lives across the hall. Many situations arise leading to slapstick and puns.