In Vienna, Baroness Teri von Horhenfels (Kay Francis) relieves the boredom of her marriage to her rich but dull husband (Henry Kolker) with love affairs. One day, at an exclusive jewel shop to purchase a diamond ring, her tedium is lifted by a suave, charming thief (William Powell) and his gang. In turn, he is entranced by her beauty. He locks her husband and her latest lover, Paul (Hardie Albright) (of whom she has already tired), in the vault, and forces shop owner Hollander (Lee Kohlmar) to smoke a special cigarette that soon makes him forget his troubles. She however persuades him into leaving her free. However, he is not so carried away as to neglect his duties; he takes her ring, all 28 carats (5.6 g) of it.
Mickey Mouse appears as a street performer playing Adeste Fideles on a cello while Pluto howls along. Several passers-by appear to throw coins in Mickey's collection cup and Mickey wishes them a merry Christmas. But when Mickey goes to buy food, he discovers his cup is full of nails, nuts, and bolts. Mickey walks away disgusted.
Mrs Todd is aggrieved at finding that the country house she has bought is evidently haunted. Sir Hector Benbow and his nephew, on behalf of the previous owner, set out to demonstrate that there is no ghost.
Un jeune homme et une jeune femme qui ne se connaissent pas partagent la même chambre, lui le jour, elle la nuit, sans jamais se croiser. S'étant rencontrés par hasard en ville, ils tombent amoureux mais ils continuent à ignorer qu'ils occupent la même chambre.