Former Brooklyn taxicab drivers Tim McGuerin and Eddie Corbett now operate the successful Red Circle Cab Company. For their fifth wedding anniversary, Tim's social climbing wife Sadie, a former stripper, throws a sophisticated party featuring the famous classical pianist, Ignatz Rachkowsky. After Eddie and his domineering fiancée Mabel Cooney arrive, Mabel threatens to reveal Sadie's former profession because of an ongoing feud between them, and Eddie and Tim disrupt the party by practicing their casting techniques with fishing poles Eddie has brought as a gift. Escaping outside, Tim and Eddie throw their lines into the river and catch a drowning woman, Lucy Gibbs. After they revive her, Lucy, winner of a Coney Island Beauty Contest, which named her the "Brooklyn Orchid," is outraged that Tim and Eddie have foiled her suicide attempt. She then insists that she is theirs to do with as they please, as they are responsible for bringing her back to life. Although they think she is insane, she threatens to tell a policeman they pushed her in until they agree to take her home. Lucy explains that the contest ruined her life because neither other women nor her boyfriend trusted her after she became renowned. Tim and Eddie go to great lengths to keep Lucy hidden from their spouses, and hope to ditch her by taking Sadie and Mabel to a fashionable health resort. Lucy, however, follows them to the resort and poses as a wealthy socialite. Tim and Eddie interest playboy Tommy Goodweek in Lucy, sparking the curiosity of Sadie and Mabel, who finally meet her. Sadie and Mabel still do not suspect their husbands, even after Lucy tells her story, because she does not name them. Lucy and Goodweek then host a party at which Sadie engineers Mabel out of a dance with Tommy. Mabel gets so angry that she secretly sends the bandleader a note informing him that the famous "Broadway Bombshell" is in the room. The bandleader calls Sadie onto the dance floor to lead the Conga line, but when Eddie whispers to Lucy that Sadie is too embarrassed to admit her past, Lucy pretends to be her. Disgusted by her devious character, Eddie breaks off his engagement to Mabel and dances with Lucy. Outside by the pool, meanwhile, Sadie confronts Mabel with a dinner knife and rips her dress to shreds, then pushes Mabel into the pool. When Lucy offers Tim and Eddie fishing poles with which to retrieve their sweethearts, Mabel is enlightened, and boots Tim and Eddie into the pool as well.