Johnny Fraser leaves his mother in their small home town and sets out for the big city. He obtains a job with a large firm of architects. Steve Carson, a fellow employee, is constantly flaunting the money he has won at the race track. Johnny also bets the races, but loses heavily and takes some of the firm's money to cover his losses.

Out of work, Woody complains about his not having any living quarters. A slick talking con man convinces him to buy some "magic beans" promising they will guarantee him a home. Sure enough, Woody climbs the resulting beanstalk and finds a huge castle at the top. Unfortunately, the castle is already occupied by a sleeping giant who Woody eventually outwits, turning his castle into a series of apartments with the giant as a bellboy and Woody as his manager.

An alley cat spies a high-class female cat on her balcony and falls for her. Her butler sends the family bulldog to deal with the alley cat, but the cat's too clever.

A mad doctor named Zanoff uses a drug to bring himself back from the dead after his execution in prison. Dick Tracy sets out to capture Zanoff before he can put his criminal gang back together again.

Jerry crashes a vase onto Tom's head, which gets Mammy to throw Tom out. Jerry at first revels in his freedom, but soon tires of this, and, under a flag of truce, hatches a plan with Tom.

Tom's new book on "how to catch a mouse" doesn't prove too helpful against Jerry; actually, Jerry seems to make better use of it than Tom.