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Líder de uma quadrilha, Dr. Mabuse planeja um grande golpe: o roubo de informações privilegiadas da bolsa de valores. Depois de usar seus poderes psíquicos em um golpe no jogo de cartas, Mabuse começa a ser investigado pelo Comissário Von Wenk. Mas as poucas pistas fazem com que o comissário procure alguém para ajudá-lo no caso.
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Sally Meyer, a young Berliner, persuades his Doctor to convince his wife that he is ill, so that he is able to take a holiday in the Austrian Alps in order to pursue women. Meyer dresses up in what he considers Tyrolean attire. However, he mistakenly travels to the Bavarian Alps rather than Austria. Meyer becomes infatuated with Kitty, a young, attractive woman at the hotel where he is staying. His pursuit of her angers many of her other suitors who are also staying at the hotel. In order to impress Kitty, Meyer agrees rather reluctantly to climb Mount Watzmann. While they are approaching the summit, both Meyer's wife and Kitty's fiancee unexepectedly arrive from Berlin.