Arnold L'Hommedieu and his friends Archie Hartogensis and Hugo Waldemar go to New York to find work after being unfairly expelled from college. Arnold starts off as helpful and idealistic, but after being beaten down by life, he decides he is only after money and becomes an opium smuggler. His pals have fared no better: Archie becomes a drug addict and is in debt thanks to his spendthrift fiancee, while Hugo has lost his money after investing in a show that flopped. The two go to Arnold for financial aid. They await a shipment of opium, but the police are onto them and raid the hideout; only Arnold evades the cops.