Dagwood Bumstead stays up late to finish his income taxes and gets to bed just before his alarm goes off. In the absence of his boss, J. C. Dithers, Dagwood has been put in charge of Dithers' Construction Company. He is so tired, however, that he falls asleep in the elevator and does not arrive at the office until noon. There, Mary, the receptionist, gives Dagwood three blank checks left by Dithers in case of emergency. Later, Toby Clifton, a representative of Toby Enterprises, which is about to sign a big contract with the company, arrives to see Dithers. Dagwood is sound asleep at his desk, but he quickly wakes up when he is introduced to the attractive Toby. After they inspect the four properties where Toby Enterprises plans to build beauty shops, Toby invites Dagwood to lunch. To impress her with his importance, he brags about the blank checks that Dithers left in his charge. Dagwood and Toby are seen together by two neighbors, and by the time he reaches home, the gossip has spread to his wife Blondie, who is sure that Dagwood has done nothing wrong. The next morning, however, Blondie makes Dagwood an elaborate lunch so that he will have no excuse to go out. When Toby again asks Dagwood to lunch, he refuses at first, but when a telegram arrives from Dithers, ordering him to secure the contract at any cost, he agrees. Toby encourages Dagwood to order a drink at lunch, and then asks him back to her room to pick up the signed contract. There, she changes into a negligee, and before Dagwood knows what is happening, a man claiming to be Toby's husband Adolph, demands money to keep Dagwood's name out of his divorce suit. Toby asks Dagwood to fill out one of Dithers' blank checks, promising to repay him in the morning. That night, Toby and Adolph leave town. Dagwood learns of the swindle when Samuel P. Dutton, the real owner of Toby Enterprises, brings the signed contract to the office the next morning. Blondie decides that they will take a loan on the house to repay the money, but after a night of terrible dreams, Dagwood learns that Dithers accidentally gave him checks from an account that he had closed months earlier.