Guy Kibbee made a lot of money in the stock market in 1929 when his broker sold when Kibbee told him to buy. Now he spends some of that money granting his wife's wishes. Her latest is to break into New York society. Matron Nella Walker is down to her residences and the furnishings, but she still has prestige. So Edward Everett Horton suggests they can enter society by marry Miss Walker's son, Ross Alexander, to their daughter.
They don't have a daughter, but Kibbee has taken a shine to June Martell, the waitress in the diner he likes to eat at. They fit her up as their daughter and throw a party to introduce her to Alexander, not knowing they've already met, and Alexander is smitten.
It's a Cinderella story, with Kibbee's checkbook serving as a magic wand. Although it occasionally gets a bit tiresome by its reliance on Horton's nitwittery, there's enough of the old-style Warner Brothers' rapid-fire editing to keep this moving along amusingly.