Millionaire Daddy Warbucks goes bust in the Great Depression and is forced to abandon his adopted daughter, Annie. While he's out west working on another fortune, Annie finds an orphaned boy on the streets and helps him find a home.

Captain Nemo has built a fantastic submarine for his mission of revenge. He has traveled over 20,000 leagues in search of Charles Denver - a man who caused the death of Princess Daaker. Seeing what he had done, Denver took the daughter to his yacht and sailed away.

Hildy Johnson is an investigative reporter looking for a bigger paycheck. When an accused murderer escapes from custody, Hildy sees an opportunity for the story of a lifetime. But when he finds the criminal, he learns that the man may not be guilty. With the help of his editor, Hildy attempts to hide the convict, uncover the conspiracy and write the scoop of his career.