In 1890s New York City, James Cagney shines as Biff Grimes, a lovestruck dentist desperate for a chance at happiness. However, his best friend and business partner Hugo Barnstead (Jack Carson) manipulates him into becoming embroiled in Hugo's questionable ventures, leading to a tangled web of desire and deceit. As Biff navigates the complexities of love and loyalty, he ultimately discovers that having what you want may not be the same as wanting what you have.