When vaudeville performer Florette Faxon is left penniless with her six-year-old son Jimmy, she relies on the friendship of fellow performer Bud Hannigan to help her get a job. Bud is reluctant to become her partner, as he has proven to himself to be unreliable in relationships, but he tells her to call him whenever she needs help. While working in a beer garden, Florette meets Hap Stanley, an avaricious performer who marries her to get the rights to perform her show routine. Hap dislikes Jimmy and eventually convinces Florette to send him away to school. Both Jimmy and Florette are broken-up over being apart, but Jimmy pretends it is what he wants so Florette can be happy with Hap. Jimmy is miserable at the B.B. Military Academy, especially as there is no one with whom he can talk about show business. One night, immediately before a show, Hap tells Florette he is splitting up with her. Florette is completely brokenhearted, and during a romantic number in which she is sent sailing over the audience on a swing, she falls to her death. Hap barely manages to conceal his indifference to her death and adamantly refuses to take responsibility for her son. Bud steps in and after promising to take care of Jimmy, travels to give him the bad news on parents' day at the school. Bud finds Jimmy talking to singing star Bonnie Kay, who has come to perform at the school as a special favor. Jimmy discovers that Bonnie, and Bud, both of whom he admires, are married. Bud is unable to tell Jimmy the truth about his mother and instead says she has been booked on a lengthy European tour. Jimmy is happy for her, but begins to cry at the thought of being left alone at the academy. Bonnie realizes that Bud left her years earlier because he was afraid that his selfishness and drinking would ruin her, and she and Bud reconcile and promise Jimmy that they plan to take him away from the school with them.