Olive Granger, an heiress survives a shipwreck in the South Seas and is washed ashore an island along with international crooks Irene Carlton and Fred Morgan, who steal her credentials and escape to America, where Irene poses as Olive. Paul Patterson and Jan Boomer, divers, find Olive abandoned in a cave and fight through the jungle in competition for the girl. While diving for pearls, the treacherous Boomer dies in the clutching coils of a giant octopus. Olive and Paul arrive in New York, expose the impostors, and get married.

Tom Eggett, with the help of his pals, Dick and Van, loses the last cent of his inheritance, is evicted from his apartment, and is rejected by Gwen, his fiancée. A codicil to his uncle's will, however, stipulates that he shall inherit the Eggett department store provided that he operate it for 3 months at a profit. Cyrus Crabb, manager of the store, is determined to gain possession of the business and arranges for the company's credit to be canceled during Tom's management, though Grace Gordon, a stenographer, has evidence of his perfidy.