Emery Slade was one of the brightest stars in Hollywood in 1932, but by 1949 his career has hit the skids. Fortunately, he is able to convince studio head Melville Crossman to cast him in the adaptation of a hit Broadway show. Crossman has one condition: Slade must travel to New York and convince the female star of the stage production to join the film. Slade goes, but, when he eyes the winsome Julie Clarke, he hatches a different scheme.

Teenager Susan Turner, with a severe crush on playboy artist Richard Nugent, sneaks into his apartment to model for him and is found there by her sister Judge Margaret Turner. Threatened with jail, Nugent agrees to date Susan until the crush abates.

Meek busboy Little Pinks is in love with an extremely selfish nightclub singer who despises and uses him.

In the second film of the series (and not a second part of anything), Gay Lawrence, aka The Falcon, is about to depart the city to marry his fiancée, Helen Reed, when a mystery girl, Rita Mara, asks for his aid in disposing of a secret formula for making synthetic diamonds. He deliberately allows himself to be kidnapped by the gang for which Rita works. His aide, "Goldy" Locke, trails the kidnappers and brings the police. But the head of the gang escapes, and the Falcon continues the pursuit.

Having forsaken the detective business for the safer confines of personal insurance, Gay Laurence is compelled to return to his sleuthing ways. Along with sidekick Jonathan "Goldie" Locke, he agrees to look into a series of home party robberies that have victimized socialite Maxine Wood. The duo gets more than they bargained for when a murder is committed at Wood's home, but Lawrence still finds time to romance the damsel.

While an escaped convict, Moose Malloy, goes in search of his ex-girlfriend Velma, police inspector Michael O'Hara attempts to track him assuming him to be a prime suspect for a number of mishaps.

Art curator George Steele experiences a train wreck...which never happened. Is he cracking up, or the victim of a plot?

During WWII, industrialist Joe Keller commits a crime and frames his business partner Herbert Deever. Years later, his sin comes back to haunt him when his son plans to marry Deever's daughter.