The Bowery Boys find a lamp that has strange magic powers.
Slip invites his cousin Jimmy to stay with his family after he is released from prison. However, Jimmy soon gets mixed up with an auto-theft ring.
Slip (Leo Gorcey), Sach (Huntz Hall), Bobby (Bobby Jordan), Whitey (William Benedict) and Chuck (David Gorcey) unsuccessfully try to sell a dilapidated car to a street cleaner for a fabulous amount, so they can get enough money to save Louie's (Bernard Gorcey) Malt Shop. Sidewalk photographer Cathy Smith (Teala Loring) snaps a pictures of three bank robbers as they are fleeing a robbery but when the Bowery Boys and Cathy realize that Sach is also in the photograph, they break into the photo lab to destroy the negative, which might make the police think Sach was involved in the robbery.
Slip and Sach are working for a local newspaper as a reporter and photographer, respectively. Slip wants to get the goods on a local gambling ring that is fixing sporting events, so he and Sach go undercover to expose the ring.
A man wins $50,000 in a card game with gamblers, but is soon found dead and the money missing. Slip and Sach find the money near where the body was discovered, and soon find themselves the target of both the police and the gamblers.
The Bowery Boys--Slip, Sach, Bobby, Whitey & Chuck--start their own exterminating service, and get a job which takes them to a spooky old abandoned mansion in the middle of the night. Meeting up with pal Gabe and his new French bride, the boys are tormented by mad scientists who try to convince them the place is haunted and then kidnap Sach in order to place his brain inside a gorilla.
Sach is given a post-hypnotic suggestion that turns him into a championship prizefighter.
In order to be able to get the names of winning horses at the track, Sach agrees to sell his soul to the devil.
The Bowery Boys head west to clear Louie of an old murder charge that he had killed his gold-mine partner. Sach has the map to the gold mine painted on his back, and Blackjack McCoy has him kidnapped by Indian Joe. Gabe poses as a dangerous gunman, the Klondike Kid, while Slip is in charge of all the remaining loose ends.
Slip, Sach and the rest of the Bowery Boys enter a haunted house, where they engage in slapstick with a gorilla, a robot and a vampire
Sach receives news that he is the heir to the Terwilliger Debussy Jones fortune. Accompanied by his pal Slip, he arrives at the Jones mansion to review the legal papers needed for him to claim his new fortune. However, Sach and Slip discover that the rightful heir, the young Terwilliger III, is being cheated out of his inheritance by the miscreant duo of Stuyvesant Jones and Clarissa. Sach and Slip, with the help of their fellow Bowery Boys, save the day and restore the heir’s inheritance.
Slip and Sach are working as cleaners in a high rise building. They enter an office to clean it when a messenger hears them use Slip's given name, Terrance Mahoney. The messenger has a letter for "Terrance Mahonoey, Esq." and mistakenly delivers it to Slip. The letter informs Slip that he has inherited a mansion in Long Island. The boys then make their way to the mansion and find that it is inhabited by diamond smugglers. The real owner of the house shows up and helps save the day and defeat the smugglers and gives the boys the house as a reward.
Sach just lost his job as an assistant to a private detective, but he wasn't paid. Slip goes with him down to the detective's office to demand payment, but finds the office empty. A woman enters the office and mistakes Slip for the detective and convinces him to take on a case to find her sister after offering a $50 retainer.
Slip and Sach's boss, David J. Thurston, has allegedly committed suicide. Slip finds a book of matches with the name of a local nightclub on his boss' desk and finds out from Gabe that a gambling casino is being run out of it. Slip comes to the conclusion that the club had something to do with his boss' death and sets out to find his murderer. The boys get jobs at the club and Louie poses as a rich cattlemen as they gather the information to convict the murderers.
The boys are working at the local boxing arena where their friend, Jimmy Higgins, is boxing. During a crooked match Jimmy is killed. The boys seek out his older brother, Johnny, a former boxer who gave up the sport rather than go crooked, and help train him to get back in the ring. They try to get him a shot at the title, and when they do the same crooked gangsters that were behind Jimmy's death try to get Johnny to take a dive.
Slip and correspondence school pilot Sach, go to an air base to help a pal out...but find themselves in when they mistakenly sign enlistment forms. Can the Air Force turn these dodos into eagles? The guys may be airborne airheads, But just watch them find a way to ground a spy network that's infiltrated the base.
The boys buy a uranium mine out west, but when they get there they find that it's pretty much worthless. However, the local badmen are distrustful of these new strangers, and when they mistakenly get the impression that the mine is loaded with uranium, they hatch a scheme to get rid of the boys and take over the mine.
The Bowery Boys are enrolled in a fancy college by a pair of rich snobs who think they can turn the Boys into classy guys. Sach becomes a football star, and is kidnapped by gangsters to keep him out of the big game.
A ghost helps the Bowery Boys capture a gang of crooks led by a mad doctor.
Slip has entered the Boys' rattletrap car in a souped-up jalopy race, but has no chance of winning until Satch, with the aid of a scientist acquaintance, comes up with a chemical concoction that acts as a super-fuel; but a rival entrant in the race learns of this and tries to get the formula for himself.