The film's story is a contemporary one, set in New York City in the 1930s. It recounts the crime of Al Douglas (Robert Taylor (actor)), a bank employee who Embezzlement $200,000 from the city's Seacoast National Bank. He then carries out his plan to confess his deed to the bank's president, telling him that he has squandered all the money, mostly through reckless gambling. In reality, though, Douglas has not spent any of the cash; he buried it in a suitcase at a remote spot "across the river in New Jersey". As part of his plan too, Douglas quite willingly goes to prison after his trial and conviction for grand larceny. There he intends to be a model inmate and expects to serve only the minimum term of his five-to-ten-year sentence. Upon his release, he will then retrieve the hidden loot and enjoy a rich lifestyle.
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