In the 1850s, in a logging town on the Mississippi River, a conflict between the people of a mill town and the lumberjacks who work downriver. Romance and deceit are catalyzed by the arrival of the gambling river boat, River Lady, owned by the beautiful Sequin. Bauvais, a representative of the local lumber syndicate and Sequin's business partner, is trying to convince H.L. Morrison, the mill owner, to sell his business.

Based on the novel Low Company. One of the most peculiar film noirs of the 1940s stars Barry Sullivan as a small-time hood who suffers a mental breakdown as his big plans begin to crumble. Beautiful Belita is his singer girlfriend who only fuels his paranoia.