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).
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.
A retired Scotland Yard detective, Patrick Fitzpatrick (Tom Walls) comes back to take one final case, tracking down a missing vase which has been stolen by a gang of thieves specialising in taking art treasures.