In the second film of the series (and not a second part of anything), Gay Lawrence, aka The Falcon, is about to depart the city to marry his fiancée, Helen Reed, when a mystery girl, Rita Mara, asks for his aid in disposing of a secret formula for making synthetic diamonds. He deliberately allows himself to be kidnapped by the gang for which Rita works. His aide, "Goldy" Locke, trails the kidnappers and brings the police. But the head of the gang escapes, and the Falcon continues the pursuit.

Art curator George Steele experiences a train wreck...which never happened. Is he cracking up, or the victim of a plot?

Teenager Susan Turner, with a severe crush on playboy artist Richard Nugent, sneaks into his apartment to model for him and is found there by her sister Judge Margaret Turner. Threatened with jail, Nugent agrees to date Susan until the crush abates.