Peter Jones is a young man who arrives on Broadway from Chillicothe, Ohio, hoping to invest $20,000 in a play and turn a profit sufficient to buy a local hotel back home. He is conned by Joe Lehman and Jack McClure into backing their play with a 49-percent stake. The play opens out-of-town in Syracuse and bombs. Lehman and McClure want out, and Jones buys them out, and revamps the play into a huge hit. Jones then sells back to them at a huge profit after learning of claims that the play was stolen, and returns home to get his hotel.