A popular singer, Marian Washburn, suddenly and unexplainably loses her voice, causing a shake-up at the club where she works. Her worried but loyal piano player, Luke Jordan, helps to promote a new, younger singer, Susan Caldwell, to temporarily replace Marian. Susan finds some early acclaim but decides to leave the club after a few performances. Soon after Susan quits, she is gunned down, and Marian quickly becomes a suspect.

A small country on the verge of bankruptcy is persuaded to enter the 1932 Los Angeles Olympics as a means of raising money.