Richard Stanton, a millionaire's son whose father intends for him to become a clergyman. However, Richard has fallen in with a bad crowd at college, and the film follows the unfolding events that stem from this conflict and potentially his eventual pursuit of atonement.

A writer, Rolin, takes up residence at the deserted Holly House, once the home of the disgraced Lord Sylvester. Lady Sylvester returns, ill, with a companion, Stephanie, whom everyone, including Rolin, believes to be her daughter. Rolin falls for Stephanie and completes his novel under this assumption. Lord Sylvester reappears, briefly embracing Stephanie as his child, but casts her out when she confesses she is only a companion. Undeterred, Rolin declares his love and vows to always see her as "my Lady Stephanie."