Oswald the Rabbit and his little brother catch the Slumberland Express and it carries the assorted animals to childhood's dream of paradise - an amusement park where all the games are free, and windows are provided just to be broken by an abundant supply of free rocks, and old men wear silk hats to provide targets for snowballs.
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).
Paddy O'Riley and Ossie Merrill, Bellport high school football heroes, enroll in distant colleges; Paddy at a small school in the East, where he is barely a substitute, and Ossie at a powerhouse-football school, where he is an instant star and all-American candidate.
A bumbling tramp desires to build a home with a young woman, yet is thwarted time and time again by his lack of experience and habit of being in the wrong place at the wrong time.
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.