The Lone Wolf (Warren William) is recruited to steal weapon plans by a mysterious gang led by Gregory (Ralph Moran) but when he refuses he is framed anyway. With the help of his girlfriend Val (Ida Lupino) he manages to evade the police though lured by Karen (Rita Hayworth) he is dragged into the plot deeper and deeper.
A cat and mouse game rages as the Lone Wolf Michael Lanyard tries to keep the plans out of the gang's hands and stop the police arresting him - luckily the police as is usual in these films are rather inept!
A fast moving romp with plenty of late 1930s nonsense including a masquerade party where men wear bird's nests and prams on their heads.