A group of adventurers refloat a WWII German submarine and prepare to use it to pull a very large heist; The Queen Mary which they plan to rob on the high seas.

Pirdy is accident prone. He has been denied insurance from every company in town because he is always getting hit or hurt in some way. On the day that he meets the lovely Ellen of the Yellow Cab Co., he also meets the crooked lawyer named Creavy. Pirdy is an inventor and when Creavy learns about elastic-glass, his new invention, he makes plans to steal the process. With the help of another con man named Doksteader, and the boys, he will steal this million dollar invention no matter who gets hurt.