Two sailors who are always competing against each other set their sights on the same girl. When she chooses one over the other, their friendship ends acrimoniously. However, things change when one the men is in a submarine trapped beneath the ocean and the other, a diver, is sent down on a rescue mission.

Kay Arnold is a gold digger who wanders from party to party with the intention of catching a rich suitor. Jerry Strong is a young man from a wealthy family who strives to succeed as an artist. What begins as a relationship of mutual convenience soon turns into something else.

Sue Graham is a small town girl who wants to be a motion picture star. She wins a contract when a picture of a very pretty girl is sent to a studio instead of her picture. When she arrives in Hollywood, the mistake is discovered and she starts working in the props department of the studio instead. Her parents then come out to California and invest some money with a very shifty individual.

Dirigible commander Jack Braden and Navy pilot 'Frisky' Pierce fight over the glory associated with a successful expedition to the South Pole and the love of beautiful Helen, Frisky's wife. After Braden's dirigible expedition fails, Frisky tries an expedition by plane. Unfortunately he crashes and strands his party at the South Pole. Braden must decide between a risky rescue attempt by dirigible and remaining safely at home with Helen.