Pampered debutante Betty Baylock buys a wishing rug from a peddler and wishes for a dark-haired, blue-eyed man, hoping to rid herself of three annoying suitors. However, her wealthy stockbroker father, Robert Baylock, decrees that Betty must choose one of the young men immediately, and she defies him by dismissing them all. Robert's aggravation compounds when Betty falls in love with Jack Grey, who is penniless after squandering a $100,000 fortune. Robert orders Jack to earn back the money he has lost before he can marry Betty. Jack goes into the laundry business and discovers that Robert writes stock tips on his shirt cuffs. He copies the notations and corners a stock, earning $100,000 at Robert's expense. Admitting defeat, Robert gives the young couple his blessing.
