Brother Rabbit, Brother Bear, and Preacher Fox rise to the top of the crime ranks in Harlem by going up against a con-man, a racist cop, and the Mafia.
A group of six thieves selected from different areas are sent a letter that promises them a minimum of $50,000 and includes a plane ticket. The letter instructs them to grow a beard. After being given a blindfolded ride from the airport, they arrive at a ghost town and meet with the boss (Number #1, Jan Murray). All of the "Wolves" are assigned a number, wear identical overalls and instructed never to take off the gloves that they are given. They are only to address eachother by their numbers; in that way, if one is caught, he can't rat-out the others. Number #1 reveals to them that they will take over a town, and clean it out. Using the ghost town for training, they develop their tactics to fleece the town.
A frontier huckster, Colonel Ryder, and a young orphan, Davey, operate a travelling tent show. They are loaned an elephant by an old friend, Molly, who is also a rival circus owner. Davey trains the elephant and the two soon become inseparable. When the Colonel loses the elephant in gambling, Davey steals the elephant and begins a 20-mile search for Molly, the rightful owner.