Frankie Madison returns to New York after 14 years in prison. Noll Turner, Frankie's former partner in bootlegging, is now a wealthy nightclub manager, and Frankie is expecting him to honor a verbal '50:50' agreement they made when he was caught and Noll got away. Fat chance! Can Frankie, who knows only the strong-arm methods of Prohibition, win out against Big Business? It'll be tough...even with the unlikely alliance of torch singer Kay (Noll's ex-girlfriend).