New York, middle of 1932. The Syndicate-- headed by Joe Kulak, Louis ""Lepke"" Buchalter and Dutch Schultz-- has the city's huge garment industry organized and under control. Now they are setting their sights on bakeries; there are 500 independent wholesale bakers in the city. They give Bull Hanlon the word: get the biggest independent baker, Adam Stone, to sign up and all the rest will fall in line.