The time is the 1890s, and the place is San Francisco. George Ball (Lou Costello) and Tom Watson (Bud Abbott) are firemen who rescue 'Nugget' Joe McDermott (Tom Ewell) from committing suicide by drowning. Joe wants to die because his girlfriend, Rosette (Mitzi Green) no longer loves him. The boys keep an eye on him and Joe is thankful for it after receiving a telegram the next morning from Rosette claiming that she still loves him. George and Tom take their gold reward to the bank when they learn the police mistakenly believe Joe was murdered for his gold that night by the two men who actually rescued. They catch up to Joe on his boat for the Yukon and try to get him down to the police station only to see the ship depart San Francisco with all three of them on it.