On his ninth birthday a boy receives many presents. Two of them first seem to be less important: an old cupboard from his brother and a little Indian figure made of plastic from his best friend.

Mary Stevens (Kay Francis) and her old friend Don Andrews (Lyle Talbot) find themselves graduating from medical school at the same time. They decide to set up their respective medical offices in the same building. Mary builds her reputation despite many patients refusing to be treated by a woman. Don, however, begins dating Lois Cavanaugh (Thelma Todd), whose family is rich and influential, and neglects his practice for the privileges of a social life.

Lorry and Minnie are ex-hookers who leave prison, determined to find the good life with rich men. Along the way Lorry meets and falls in love with cotton barge owner Dan. She must choose between living on a barge with her love, risking his learning about her past, and remaining the mistress of wealthy Stephen Paige.