Based on a 1932 novel City of Anatol by Bernhard Kellermann. The film is set in a small city in the Balkans, where the discovery of oil leads to a major boom.
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.