Possessed of an iron heart and a desire for power, Stephen Martin rules his iron works with a hand of steel. Even his son Tom, who marries against his father's wishes, is forced to leave home. At the death of his brother, who owned an even larger manufacturing plant, Martin inherits his brother's property, and Mrs. Martin, unable to improve socially with her husband, is forced out of the house to make way for adventuress Anne Parnell. When the workers in the plant demand more pay, Martin refuses, and a strike is called. Tom tries to pacify the strikers, but to no avail. During the strike, the plant is burned to the ground, and Martin finds himself financially ruined. His heart then softens, and he returns to his wife and begs forgiveness of his son.