Bab comes home for the Christmas holidays. Given to fabrications, Bab has been keeping a diary in which she describes and imaginary boyfriend named Harold Valentine. Imagine what happens when a real Harold Valentine shows up as her parents' house guest.

When Bab Archibald's father gives her $1,000 with the proviso that the gift will serve as her allowance for the year, our heroine proceeds to blow the dough on a brand new car. The car is subsequently totaled when Babs runs afoul of a milk truck, and paying for the damages leaves her with a measly 16 cents. Frustrated yet undeterred, Babs takes a job as a cabbie. One of her customers leaves something behind - a blueprint for the Archibald mansion. Could this customer be nothing more than a crook? Bab is on the case!

John Keefe, a gambler, shoots and kills Robert Barrington in an argument over a card game. Keefe steals Barrington's papers and forges a bill of sale to himself for Barrington's stable of race horses back east. The stable includes the prize filly, Wildfire. Meanwhile, Barrington's daughters, Henrietta and Myrtle, are becoming worried about their father's long absence in the West. John Garrison, the sheriff of the town in which Barrington was killed, goes East to investigate. He suspects Keefe (now called John Duffy) and begins to build a case, causing Henrietta to become suspicious. Keefe, realizing that the game is almost up, tries to get Wildfire's jockey to throw the big race, but Henrietta saves the day and Wildfire wins.