Frankie Reynolds (Frankie Darro' ), youngest member of a family of jockeys, borrows $4.85 (yes, four dollars and eighty-five cents) from his sister Phyllis (Gladys Blake), who is not a jockey, to buy a crippled colt from the stables owned by Clay Harrison (Kane Richmond).
A newly hired police chief vows to clean up a notoriously corrupt police department. When he is murdered, investigators find that there is no shortage of suspects, most of them being fellow cops.
In London, August 1914, Austrian star Elsa Duranyi (Gertrude Michael) and English matinee idol Alan Barclay (Herbert Marshall) are in love and plan an immediate marriage.
Someone is murdering the cast and crew of a new Hollywood movie, and the leading lady may be next. As a police detective locks down the lot and refuses to let anyone leave, the studio’s publicity head and his secretary attempt to solve the murders themselves.