Ogden Spencer Trulow III is a wealthy kleptomaniac who turned to stealing when he was spurned by a girl. His psychoanalyst advises him to find another girl for a cure. He fastens his interest upon Sally Martin, who happens to be engaged upon helping some crooks steal a valuable necklace. Complications include two scantily attired individuals, one of them drunk, clinging to the cornice of a skyscraper and a large band of crooks in quest of the precious jewels.

Popeye's Pappy takes a flagpole sitting job atop a tall building without telling Popeye. Popeye goes to rescue him, but he doesn't want to go until an electrical storm hits.