Based on a Broadway musical, the story has Damon Dillingham, newly-discharged from the Army following WW II, returning home and learning that his partner, Eddie Martin, has invested the savings (from $21 a month?) Damon sent home in a racehorse, rather than using the money to keep their pre-war band together. So, he starts over. A good start is made when Ann Rogers comes on board as the singer, and Gene Krupa also lends a hand.