Donald and Eunice Ingals eagerly await the arrival of their children Bradley and Lois home from college for Christmas. So that he can earn enough money to buy Bradley a watch, Donald approves a mine valuation and allows his boss, Matthew Daggett, to fill in the details on the report. On her way home, Lois plays a prank on her prim and proper godfather, Goliath Whitney, with whom she has been infatuated for some time. Donald and Eunice's hopes are disappointed when Bradley arrives with an unexpected fiancée, Mary Burke, who had bought him a watch already, and Lois arrives with a group of raucous friends. Both children choose to have Christmas dinner elsewhere. One morning at 5:30 a.m., Lois's friends push her to awaken Goliath and urge him to drive her home. Lois successfully awakens him, but discovers that she still is in love with Goliath, who feels "alive" for the first time in a while and is amused by her playfulness. The Ingalses throw a New Year's party which is attended by the friends of both children, and all is merry. Goliath nearly confesses his love for Lois but, sensing possible impropriety, decides to leave town. Bradley and Mary also decide to leave to get married immediately in Mary's hometown. Donald, who had borrowed money from his employer for Bradley's college education, is upset because Bradley will not finish college. To make matters worse, Mr. Lester Bell, a client of the mining and investment firm for which Donald works, arrives to inform Donald that the misinformation on his report caused Bell to purchase a worthless mine. Mr. Bell warns Donald that he intends to press charges unless Donald reimburses his $10,000 by Monday. Donald discovers that his trusted employer Daggett filled in the wrong figures on his report and claimed that he, Donald, is criminally liable for the error. Lois overhears the conversation and brings Bradley and Mary back from the train station to help with the family crisis. Then Lois rushes to find Goliath to borrow money from him, as he is their only wealthy relative. Bradley devises a plan in which Mary's father brings Daggett a statement that the land in question is worth $50,000 because of other elements it contains. Daggett falls for the scheme and buys back the land, on which he expects to receive other high bids. After Donald is thus saved from arrest, Lois calls to announce that she and Goliath have just married, and the family's peace is restored.