When aristocrat James C. Pidgeon (Eugene Pallette) runs into money trouble, he thinks his dying uncle's fortune will save him, only to find out that it has been left to an unnamed actress. While lawyers search for the actress, James' daughter (Ruth Terry) convinces him to invite a destitute man, Mr. M., to Christmas dinner to appear generous. The man turns out to be a former actor (Joseph Schildkraut) who is also able to locate the mysterious actress heir, Florie Watson (Ona Munson).
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