Although the Falcon has an alibi with his fiancée, reporter Marcia Brooks (Jane Randolph) and assistant, "Goldie" Locke (Cliff Edwards) supporting him, Donovan is skeptical and attempts to incarcerate Tom, who makes his escape.

Looking for the killer, Tom runs into puppeteer Smiley Dugan (Edgar Kennedy), who alerts Donovan that the Falcon is at the hotel.

Tom phones his houseboy, Jerry (Richard Loo), telling him to pose as the Chinese Trade Commissioner wanting to buy war bonds.

Finding a way to escape once again, Tom returns to the hotel, and confronts Mrs. Lipton, who was being blackmailed by Rickey into selling the war bonds.

Item: Edgar Kennedy after all these years of two-reel comedy madness, turns out to be a dangerous maniac after all, which is like discovering that Donald Duck really belongs in the ward for violent cases.

The Falcon rounds up a gang of bond thieves amid the standard quota of murder and mayhem, but the lack of suspense is terrific.