Informed that a defense company plans to build a factory on the outskirts of town, developer J. C. Dithers erects fifty houses in the vicinity. After the plans are canceled, Dithers is stuck with his now worthless homes. When tool magnate Randolph Wheeler visits the office, Dithers' employee Dagwood Bumstead suggests that his boss persuade Wheeler to build a tool plant on the site. Preoccupied with personal problems, Wheeler confides to Dithers that he has come to town to rescue his daughter Vicki from the clutches of a fortune-hunting theater director named Jerry Grant. After Dithers proposes that Wheeler occupy himself by building a tool plant, the tool magnate becomes intrigued. Dithers then seals the deal by suggesting that Vicki stay with the Bumsteads while he and Wheeler go to inspect the site. When Dithers informs Dagwood of his plan, Dagwood, who has only seen a baby picture of Vicki, goes to the hotel to meet her, expecting to find a little girl. Dagwood is surprised to meet the adult Vicki, and Vicki, thinking that Dagwood is involved with the theater, agrees to accompany him home. At the Bumstead house, Vicki is disappointed to learn that Dagwood is only involved in remodeling a movie theater and therefore is not part of the legitimate theater world. When Blondie, Dagwood's wife, enthuses about her dream of becoming an actress, Vicki encourages her and enlists her in staging a play that she has authored. Soon, Mr. Crum, the mailman, and the Bumsteads' son Baby Dumpling join the production. Dagwood is furious until he learns that Cora, Dithers' wife, is sponsoring the play. After Cora marshals Dagwood into playing the lead, Jerry offers to direct the play and moves in with the Bumsteads to facilitate rehearsals. Nearing completion of his project, Dithers phones Dagwood at the office and is dismayed to learn that Dagwood is immersed in rehearsals and that Vicki is involved with Jerry and the theater again. Fearful that Wheeler will cancel the deal if he learns the truth, Dithers speeds to the Bumstead house to stop the play. Upon discovering that his own wife is sponsoring the production and that the proceeds have been pledged to the U.S.O., Dithers resolves to keep Wheeler out of town for as long as possible. His plan fails, however, when Wheeler insists upon returning to the city immediately. On opening night, Dagwood falls through a trap door, Daisy, the Bumsteads' dog, makes an entrance on the train of Blondie's dress, and the actors miss their cues. After birds flutter out of Dagwood's rented magician's coat, the audience erupts in hysterics and Vicki pleads with Jerry to run away with her. After Jerry and Vicki flee the theater, Wheeler bursts in and announces that he is calling off his deal with Dithers. Unable to find Blondie, Dagwood thinks that she has run away with Jerry and follows them to the Bumstead house. When Dagwood confronts Jerry, Jerry boasts that his marriage will make him rich and offers Dagwood a share. Vicki overhears the conversation, and when Wheeler arrives and throws Jerry out of the house, Vicki renounces both Jerry and her acting aspirations. Blondie then joins Dagwood, and all ends happily when Wheeler announces that he has decided to build the plant.