Dishonorably discharged from the Army Air Corps, Brad Dunham (George Raft) disconsolately decides to try his luck with Shanghai's postwar black market. Teaming with the treacherous Tamara Baranoff (June Havoc), Dunham prospers in his newly-found illicit profession, much to the dismay of his best friend, reporter Mark Andrews (Tom Tully). When Tamara has the troublesome Andrews murdered, Dunham realizes the folly of his behavior and works overtime to squash the black market for good and all.
Promoter Ann Porter decides to start her own Ice Show despite the efforts of ex-racketeer Duke Baldwin who owns a rival show. Jeff Stewart, a rich, suave young Broadwayite, falls in love with Ann and aids her in her fight against Baldwin.
Bob Clemens is a cameraman for newsreels. Assigned to shoot the Swiss ice skater Karen Vadja, he arrives too late, so decides to film a woman skating on a different New York rink and pass her off as Karen. The scheme backfires when promoter Larry Herman takes a look at Bob's film and decides to make the skater a star. Unfortunately, it's actually amateur (and illegal immigrant) Marie Bergin in the newsreel footage, not the great figure skater from Switzerland. Chaos ensues as Bob tries to straighten everybody out.
Durante la huida que emprende un grupo de personas tras la invasión de las tropas alemanas, el príncipe austriaco Kurt von Rotenberg se enamora de Marta Keller. Al ser descubiertos por los nazis en Checoslovaquia, Von Rotenberg decide entregarse a cambio de que liberen a cuatro detenidos, entre ellos el novio de Marta. (FILMAFFINITY)
Guerra de Independencia norteamericana (1775-1783). Una joven virginiana reniega de sus orígenes aristocráticos y se casa con un plebeyo con ideas democráticas. Su nueva situación le ocasionará tremendos conflictos con su padre.
