On a wintery train ride toward Baldpate Inn, Kenneth Magee, a mystery writer, stakes $5,000 that he can spend a whole night there and craft a compelling story. On the platform, a stranger, Mary Jordan, snatches his typed pages and cryptically warns him not to proceed to Baldpate. Believing he has the only key to the inn, he’s taken aback when he finds Cargan waiting inside, insisting he is the caretaker and that the writer wasn’t expected. The inn sits in darkness—no electrical power—so Kenneth chooses to work by an oil lamp and the glow of the fire, turning the quiet into a stage for secrets. When Mary arrives, she must remain because the weather has turned foul, locking the two of them into a tense, isolated setting as the night deepens and Kenneth resumes his storytelling, weaving fiction into reality with every flicker of flame.
As the hours creep by, more guests begin arriving, all of them behaving with unsettling secrecy. A curious old man slips in through a window and introduces himself as a local hermit, drawn by the lamplight in the closed inn. Mary, posing as the secretary of the inn’s owner, is there to distract Kenneth and ensure that he does not win the bet. Kenneth overhears a phone call that makes him think the others are merely part of a grand distraction, but the truth is closer to crime than to fiction: except for the hermit, these visitors are members of a criminal gang scheming to stage a false crime and file a fraudulent insurance claim. The tension thickens as more gang members arrive and begin to double-cross one another in a bid to keep control of their scheme.
Mary’s attempt to summon help is blocked when Cargan slips outside and cuts the phone line. She desperately tries to tell Kenneth that the men are criminals, but his conviction that they’re only diversions persists, until a gruesome discovery shatters his certainty: the dead body of a gang member lies nearby. The two fugitives try to escape, yet are pinned down by Cargan and his men, closing in within the creaking confines of the inn. The hermit summons the police, who arrive with skepticism and a careful eye for truth, while the tension between truth and illusion plays out in real time.
With the clock inching toward dawn, Kenneth must stall for time as Max Rogers holds Mary at gunpoint. He ingeniously guides the authorities to the dead body, and the crooks are brought to justice. Yet even as the danger recedes, Kenneth remains intent on his original wager. He returns to his room and resumes writing, giving his tale a fresh title—“Seven Keys to Baldpate.” In the final, quiet moment, Mary finds him in the glow of the lamp, and she leans in to kiss him as the page settles with a clear, definitive “THE END.”