On March 23, 1933, middle-aged cigar store owner Joe Gimlet (Lee Tracy) runs into his childhood friend, banker Ted Wright (Otto Kruger). While having dinner with Joe and his wife Mary, Ted asks the couple to invest $4,000 in his company. Joe is excited by the idea, but Mary refuses to part with their savings. Angered by her reluctance, Joe gets drunk and declares to Mary that he should have married the wealthy Elvina. Drunkenly leaving their apartment, he is hit by a car and is brought to a hospital for surgery.
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