powered by AFI
Reporter Torchy Blane is in the police station when Gilbert, a secret service agent, asks the police for help in catching a counterfeiter known as $100 Bailey, who is passing hundred dollar bills. He tells police detective Steve McBride that the man he suspects will pass the money at the racetrack and convinces Steve to let him watch the $100 betting window. Captain McTavish dispatches Sergeant Gahagan with a letter to confirm Gilbert's identity, but, unknown to the police, Gilbert is actually Bailey and he intends to use his position at the racetrack to pass counterfeit money under the eyes of the police. Gilbert switches McTavish's letter with one written by a member of his gang, and his cover is maintained. McTavish forbids Steve to tell Torchy about the investigation, but determined to get her story, Torchy follows Gilbert from the racetrack. Gilbert notices her on his tail, however, and loses her. By questioning Gahagan, Torchy figures out what the investigation is about, but when she writes the story, her editor explains that they have been asked not to publish anything on the subject in order to keep the operation secret. Torchy is still suspicious, so she marks Gilbert's automobile tire with creosote and borrows a dog to track the scent. With Gahagan's help, Torchy discovers Gilbert's hideout, but they are spotted by Gilbert's men and kidnapped. Torchy sends the dog to get help. Meanwhile, Steve has begun to worry about Torchy. Gilbert's response makes him suspicious and when the dog shows up without Torchy, Steve sets off in search of her. They arrive just before a bomb is set to go off, and Bailey panics, revealing Torchy's hiding place.