The deformed Phantom who haunts the Paris Opera House causes murder and mayhem in an attempt to make the woman he loves a star.

A young woman, Natalie Storm works in a sweatshop and struggles to support her mother and little sister, Beatrice. Their mother dies and Beatrice suffers from poverty. Because of her circumstances, Natalie rejects the marriage proposal of Tom Chandler, a self-educated mining engineer. He then leaves for South America, where he intends to make his fortune. To save her sister and herself, Natalie becomes the mistress of a wealthy Wall Street magnate, Alvin Dunning. When he publicly humiliates her, however, she becomes determined to free herself. Meanwhile, Chandler discovers a copper mine in South America and returns. He is invited to a party at Dunning's home. When he meets Natalie as Dunning's mistress he is heartbroken and abruptly leaves. Natalie is by now desperate to get away from Dunning. She then acquires enough money from a lucky stock tip to leave him.

Shakespeare Clancy is a jailbird who walks out with a crowd of visitors about the time "Skeeter" Burns, the prison printer, is discharged. Learning that a legacy awaits them in Dodson, the pair depart for the small Western town. Discovering that the bequest consists of a failing county newspaper and a plot of barren land, they hatch a plan to fleece the townspeople by selling shares in a bogus oil well. Problems arise when Clancy falls in love with society editor Alice Whitney. Clancy is conflicted but then they do strike oil! Concluding that his destiny is to be an honest man, Clancy returns to jail to finish serving his term. Slipping into the crowd of visitors, he dons his prison clothes and resumes work as though nothing had happened.