Upholsterer's assistant Irene O'Dare meets wealthy Don Marshall while she is measuring chairs for Mrs. Herman Vincent at her Long Island estate. Charmed by her, Don anonymously purchases Madame Lucy's, an exclusive Manhattan boutique, and instructs newly hired manager Mr. Smith to offer Irene a job as a model. She soon catches the eye of socialite Bob Vincent, whose mother is hosting a ball at the family mansion. To promote Madame Lucy's dress line, Mr. Smith arranges for his models to be invited to the ball.

In the second film of the series (and not a second part of anything), Gay Lawrence, aka The Falcon, is about to depart the city to marry his fiancée, Helen Reed, when a mystery girl, Rita Mara, asks for his aid in disposing of a secret formula for making synthetic diamonds. He deliberately allows himself to be kidnapped by the gang for which Rita works. His aide, "Goldy" Locke, trails the kidnappers and brings the police. But the head of the gang escapes, and the Falcon continues the pursuit.

While an escaped convict, Moose Malloy, goes in search of his ex-girlfriend Velma, police inspector Michael O'Hara attempts to track him assuming him to be a prime suspect for a number of mishaps.