Making a delivery to a mysterious mansion in a rainstorm, radio salesman Hank Martin is knocked out when a suit of armor topples on him. Upon awakening, Hank finds himself in the time of King Arthur. At Camelot Castle, Hank uses a cigarette lighter and his skill with a lasso to save himself from being executed as a demon. Hank so impresses Arthur that the king orders him to joust with one of his knights to save the life of Princess Alisande.
When misfortune hits hard on the Jordan family of Chicago's upper class, Bonnie Jordan, a dazzling and witty girl, finds a job as an aspiring reporter; however, his naive younger brother Rodney takes a twisted path and gets involved with the wrong people.
A tramp falls in love with a beautiful blind flower girl. His on-and-off friendship with a wealthy man allows him to be the girl's benefactor and suitor.
Mr. Schmidt's costume store is bankrupt because he spends his time on Rube Goldberg-style inventions; the creditors send a young manager who falls for Schmidt's niece Louise, but she'll have none of him. Schmidt's friends Ted, Queenie, and some goofy firemen try to help out; things come to a slapstick head when Louise needs rescuing from a fire.
Old sailor Chris Christofferson eagerly awaits the arrival of his grown daughter Anna, whom he sent at five years old to live with relatives in Minnesota. He has not seen her since, but believes her to be a decent and respectably employed young woman. When Anna arrives, however, it is clear that she has lived a hard life in the dregs of society, and that much of spirit has been extinguished. She falls in love with a young sailor rescued at sea by her father, but dreads to reveal to him the truth of her past. Both father and young man are deluded about her background, yet Anna cannot quite bring herself to allow them to remain deluded.
The vaudeville act of Harriet and Queenie Mahoney comes to Broadway, where their friend Eddie Kerns needs them for his number in one of Francis Zanfield's shows. When Eddie meets Queenie, he soon falls in love with her—but she is already being courted by Jock Warriner, a member of New York high society. Queenie eventually recognizes that, to Jock, she is nothing more than a toy, and that Eddie is in love with her.
Lulu is a young woman so beautiful and alluring that few can resist her siren charms. The men drawn into her web include respectable newspaper publisher Dr. Ludwig Schön, his musical producer son Alwa, circus performer Rodrigo Quast, and seedy old Schigolch. When Lulu's charms inevitably lead to tragedy, the downward spiral encompasses them all.
Tasia (Dolores del Río), a beautiful dancer lower class of Russia, falls heir to the throne Prince, Grand Duke Eugene (Charles Farrell), but only admired from a distance. At the outbreak of the Russian Revolution, the Duke falls in captivity and this allows Tasia be near him.