Two sports are seen drinking beer and arguing as to the qualities of certain prize fighters. They make a bet, and to prove it, each pulls his favorite pugilist from his pocket, and they set them on the table.
The German legend of a scholar's unholy pact with the Devil would have been very familiar to most moviegoers (at least European ones), so Georges Méliès' early cinematic treatment likely got away with simply offering a fancifully illustrated late episode without the earlier narrative context (however, spoken narration provides some of the latter in this restored print).
A pretty domestic scene showing the proud father, with the assistance of the nurse and doctor, tying the little one in a towel and weighing it with a spring scale.