A mad doctor named Zanoff uses a drug to bring himself back from the dead after his execution in prison. Dick Tracy sets out to capture Zanoff before he can put his criminal gang back together again.

A Professor has an invention that will bring down planes causing them to crash and Dawson is forcing him to use it on those carrying money. When Tim arrives to investigate he is mistaken for a noted outlaw. So he assumes that identity to force Dawson to make him a partner. But just as a plane bringing Tim help is arriving, his true identity is revealed and while he is a prisoner, Dawson forces the Professor to start his machine.

Fake fortunetellers win the confidence of clients and then get them to part with their money by buying mining stocks which are worthless.

Director Lloyd Bacon's 1931 drama takes a different look at the Broadway arena by focusing on the owners of a theatrical costume shop.