While painting in the park, penniless artist Augy Holliday falls in love with a girl who snubs him and walks away, so he paints her portrait from memory. When his friend Harry stops by Augy's apartment, he recognizes her as society girl named Gladys. In fact, Gladys is having a reception at her home, and Harry, to help his friend, stakes Augy to some money and a new suit in order for him to meet her. However, despite the sparks between the couple, Gladys's status-conscious aunt rejects Augy as a suitor. Augy's luck appears to change when a wealthy couple visits his apartment, see Gladys' portrait, and offer to buy it for $3,000, but he refuses to part with it. The man gives Augy his card in case he changes his mind.  Augy return to Gladys' home in hopes of proposing, but he becomes tongue-tied in her presence. Gladys' chum, Phyllis, offers to help him with his proposal, but when Gladys overhears them, she thinks Augy has fallen in love with Phyllis. Distressed by this sudden change, she decides to marry the man her aunt has been trying to press upon her. Despondent, Augy goes back to his apartment with plans to sell the portrait, but he discovers that an art thief has taken it. Augy tries to kill himself, but his gas is turned off. He goes to a nearby bar to get a quarter to turn it back on, and by luck meets Automatic Joe, a local thug who agrees to kill him for fifty dollars, with the proviso that death has to come as a surprise to Augy. Soon, however, Augy's financial situation improves when a policeman returns the painting and a letter arrives informing him that his stepmother has died and left him a million dollars. Then another letter comes from Gladys telling him that she learned from Phyllis the truth about his intentions. So Augie gets the girl, but must avoid the man he hired to kill him, and that leads to an extended chase scene. Finally, Joe finds Augy, but having also found religion because of his dying mother, he wants not to kill Augy, but only to return the fifty dollars.