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When his charter fishing business declines, Milo Fowler agrees to rent his boat to syndicate member Rick Correll for the purpose of smuggling an underworld big shot out of the country. Once out of port, however, Correll murders the big shot and dumps his anchor-weighted body overboard. Later that night, while drunk in a waterfront dive, Milo flashes a wad of bills and is closely observed by reporter Skip Hanlon. Milo's daughter, Janey, befriends Skip, and, when the gangster's body is found, she innocently identifies the anchor as belonging to her father. Skip notifies the police; and they lie in wait for Milo, who is doing another job for Correll. When the boat returns to port, the police board it; a battle ensues during which Correll is killed and Milo is wounded before escaping. Thinking that Skip ingratiated himself with her only to get a story, Janey breaks with him and decides to smuggle her father into Mexico. But, after a showdown with Skip, Milo dies from his wounds; and Janey realizes that Skip was only doing his duty.