An adventurer poses as a prince and tries to take rich and pretty Dolly away from the man she loves by stirring up trouble.Heartbroken, Dolly is ready to drown herself.

Out of love for an actress, Isabelle, the Baron de Sigognac joins a traveling troop en route to Paris. When an actor dies, he takes over his role: that of Captain Fracasse.

Petrus, a Montmartre photographer, is accidentally wounded by Migo, a dancer at the Frou Frou night club, when she is trying to shoot her faithless lover Rodrigue, a counterfeiter. Though Petrus tries to reconcile the lovers, Migo lands up with him after Rodrigue is finally killed by another jealous dancer.

Maxime de Champcey, a bankrupt marquis, is hired by the wealthy Laroque and falls for his daughter Marguerite. She loves him too but rejects him under the belief he's a fortune hunter.