Larson E. Whipsnade runs a seedy circus which is perpetually in debt. His performers give him nothing but trouble, especially Edgar Bergen and Charlie McCarthy. Meanwhile, Whipsnade's son and daughter, Phineas and Vicky, attend a posh college. Vicky turns down her caddish but rich suitor Roger Bel-Goodie, but changes her mind when she learns of her father's financial troubles.
