After nightclub owner Fitz Mularkay sells his business enterprises because he intends to marry Marcia Friel, who disapproves of them, Torchy Blane, a reporter, interviews Tiny Torgensen, the man who bought the business and who is a close friend of Fitz.  As they leave Union Station, Torgensen is shot.  Torchy's boyfriend, police sergeant Steve McBride, who is in charge of the case, brings Torchy with him to Fitz's nightclub.

While he investigates, Torchy learns from the hat check girl, Dixie, that singer Dolly Ireland was in love with Fitz and that Fitz's right-hand man, Chuck, was angry about losing his job.  Steve suspects the other bidders for the business, but Torchy suspects Chuck.  She persuades Steve to look for him, and while they are at Chuck's apartment, Fitz shows up and demands to know what the police have on his man.  Steve learns that Chuck and Dolly were seen at Union Station just before Torgensen was killed.

Meanwhile, Torchy lunches with Fitz's fiancée Marcia, who begs her to convince Fitz to sell his business to anyone who wants to buy it.  When Chuck is found murdered, Steve immediately suspects Fitz, but later decides that he is covering for someone and he accuses Dolly.  When the forensics report states that Chuck's gun did not kill Torgensen, Marcia tells Steve that because Chuck threatened her, she is afraid that Fitz killed him to protect her.  Torchy becomes suspicious when Marcia and her brother Louie tell conflicting stories about their parents.

Finally, Torchy deduces that Louis and Marcia are crooks who have been trying to take Fitz for his money and that Louie killed Torgensen when he recognized Marcia as an imposter.  Fitz decides to stay in business and proposes to Dolly, his real love.  Inspired, Steve proposes to Torchy.