[1] We pick up the story when the editor of the New York Chronicle sits on New Year's Eve 1923 awaiting news on the theft of legendary Mrs. Reginald Thorndyke's jewelry, a bracelet worth about $50,000.

Meanwhile, Tom Gaynor, Captain of the Detective Bureau, finds out that the jewel thief in fact is none other than the notorious Harry "Heliotrope" Melton.

His lover and partner in crime, Flo, is just about to give birth at a hospital, when Harry comes to bring her a bracelet as a gift of love.

Detective Gaynor believes that Harry deep down is essentially a nice person, with a lot of goodness inside.

Faced with this fact, Harry agrees to do a last job with the two of them, a jewel heist at a socialite party hosted by Pamela Cartwright.

Harry manages to hide the stolen jewelry before detective Gaynor comes to visit, spoiling Eddie's plans.

in the ensuing gunfight, Harry kills Eddie, and tells Flo he will stop all her attempts of seeing their daughter Diana again.