Huckster showman Jim Fisk (Edward Arnold) and his faithful partner, Nick Boyd (Cary Grant), become wealthy smuggling cotton during the Civil War, but when they lose their money, the pair move to New York City and establish themselves as stock speculators. As Fisk and Boyd spar over comely actress Josie (Frances Farmer), Fisk engineers a foolhardy scheme against Cornelius Vanderbilt (Clarence Kolb) to corner the gold market, unmindful of the risks to his investors if his plan should fail.