Two would-be safe-crackers `sort of' kidnap the two grandchildren of millionaire J. W. Osborne. In a story somewhat reminiscent of O. Henry's The Ransom of Red Chief, the ransom amount keeps getting smaller as the two children have the best vacation from boarding school ever with their two new friends.

During Easter break from their boarding school in England, brother and sister Tracy and Jay are to go visit their grandfather in Los Angeles, but they don't want to spend time with the stuffy old man. Instead, Tracy and Jay decide to stage their own kidnapping and use the ransom money for plane tickets so that they can visit their mother in Hong Kong. Two crooks who need money to pay off gambling debts agree to help them carry out their plan.