Chuck Murray [Bud Abbott] and Ferdie Jones [Lou Costello] dream of moving up from their gas-station jobs. They land a brief gig as waiters at Chez Glamour, a chic nightclub where Ted Lewis and the Andrews Sisters perform — [Patty Andrews], [Laverne Andrews], and Maxene Andrews — but a row at the bar gets them fired. Ferdie clings to a dream of owning his own nightclub someday, and the hope fuels their antics.
Back at the service station, gangster "Moose" Matson [William B. Davidson] pulls in for gas and a cleaning. When the police spot him, he speeds off with Chuck and Ferdie trapped inside. In the ensuing chase, Matson fires at the officers and is killed. Moose leaves behind an unusual will: the person who was with him when he died will inherit his estate. The boys are bequeathed Moose’s rundown tavern, the Forrester's Club, and a cryptic hint about a hidden stash, claiming that he "kept his money in his head"—though that treasure is far from guaranteed.
Moose's attorney introduces the two to Charlie Smith [Marc Lawrence], a sly associate who is secretly part of Moose’s gang and wants the money for himself. Smith has arranged for a wildcat bus to drop them off at the Forrester's Club, but the bus driver abandons the trio along with three unrelated passengers—a doctor [Richard Carlson] who plays Doctor Jackson, a radio actress, and a waitress—during a heavy rainstorm.
As night deepens, strange things begin to happen. Smith disappears while searching the basement, and his corpse turns up in odd places. The tavern’s water tastes foul, Ferdie discovers his bedroom has been rigged into a hidden casino, and hidden gambling gear hums to life. The girls are frightened by what seems to be a ghost. Two detectives appear, only to vanish as soon as they start their investigation. While Ferdie studies a map to find the quickest route back to town, candles drift across the table and terrify him.
Ferdie inadvertently uncovers Moose’s treasure hidden inside the stuffed moose head above the fireplace. A disgruntled member of Moose’s gang arrives and demands the money at gunpoint. The boys manage to subdue him, but more gang members appear. Chuck and the doctor fend off two attackers, while others chase Ferdie, who holds the loot, through the tavern. The doctor proclaims that the tavern’s unsavory water has valuable therapeutic properties, and Ferdie and Chuck decide to transform the place into a posh health resort.
In a final swell of wit and bravado, the boys hire Ted Lewis and the Andrews Sisters—[Patty Andrews], [Laverne Andrews], and Maxene Andrews—to headline the revived venue, while the maitre d' who fired them at Chez Glamour, Brooks Benedict, turns up as a temporary waiter. The unexpected alliance between chance, cleverness, and a dash of showmanship reshapes the night, and the Forrester's Club begins a new, brighter chapter as a legitimate, lively destination.
