Broadway star Al Howard, Al Jolson, has a habit of walking out on hit shows, earning him a Broadway ban. His sister Molly Howard, Glenda Farrell, vows to tell his agent he will reform, but when she tracks him down in Mexico, she finds him amid a binge and tells him she’s done taking care of him. She returns to the road with a new resolve, setting in motion a plan that could change both of their lives.
Molly’s path crosses with Dorothy Wayne, Ruby Keeler, a dancer who could be the missing piece to unlock Al’s return to the stage. Seeing a chance to turn things around, Molly pleads with Dorothy to form a team with Al, arguing that a partnership might land them steady jobs again. After some hesitation, Dorothy agrees, and the trio’s unlikely alliance begins to take shape, promising a fresh start on stages far from their troubled past.
As the act finds its rhythm, the Chicago crowds embrace them, and Dorothy slowly falls in love with Al. Believing his feelings aren’t returned, she considers quitting the act. But Al reveals his dream of opening his own Broadway nightclub, and Molly convinces Dorothy to stay and see the idea through. To secure backing, Molly introduces Al to Duke Hutchinson, Barton MacLane, a gambler whose interest lies in backing the club as a showcase for his wife Luana Wells, Helen Morgan, a torch singer eager for a comeback. Al begins to flirt with Luana, despite Dorothy’s warnings, and the arrangement grows more entangled. Duke provides an extra boost of money—$30,000—to kick off the project, but Al uses that windfall to post bond for Molly, who has been arrested on suspicion of murder.
When Luana learns the show’s opening might be delayed, she warns Duke, who responds by sending gunmen to silence Al. In a turn of fate, Molly is cleared of the charge and the money is returned, allowing the opening to proceed on schedule and to thunderous applause. Duke attempts to halt the gunmen, but Luana does not deliver the message, leaving the men ready to strike.
In the end, Al realizes he is in love with Dorothy and invites her to dinner. As they step into the night, Dorothy spots the looming danger and selflessly throws herself in front of Al to shield him. She’s wounded, and as Al cradles her, he proclaims his love. The doctor declares Dorothy will be fine, and with that bittersweet resolve, Al’s club becomes a tremendous success, triumphing on the strength of love, loyalty, and a renewed dream.
