Who is worried about the diamond of Vera Gardner?
Ladies' man and amateur crime solver Gay Laurence, the "Gay Falcon", reluctantly agrees to give up both habits to mollify his fiancée, Elinor Benford. He and his uncouth sidekick, Jonathan "Goldie" Locke, become unenthusiastic stockbrokers. When Elinor asks him to attend a party given by Maxine Wood to mingle with potential clients, he refuses to go to that much trouble.
However, when Wood asks for his help via pretty assistant Helen Reed, he cannot resist. It seems that Wood's soirées have been plagued by jewel thefts, and she is particularly worried about the diamond of her guest, Vera Gardner.
At the party, Elinor becomes annoyed when she figures out why Gay changed his mind about attending, and retaliates by dancing with Manuel Retana. In frustration, she grabs the flower from Retana's lapel and flings it at Gay. He calmly picks it up and attaches it to his lapel. Vera Gardner then insists on dancing with Gay; she hands him her diamond secretly, much to his puzzlement, then leaves the room. Moments later, a shot rings out, and she is dead. The killer is seen by Goldie as he makes his getaway.
Police Detectives Bates and Grimes take Goldie to the police station on suspicion of murder. Gay persuades Inspector Mike Waldeck to release Goldie so he can flush out the real murderer. Then he and Helen go to see Maxine, leaving Goldie in the car. While they are gone, Goldie is abducted by Noel Weber, Gardner's killer. Weber orders Goldie to call Gay to offer to trade Goldie's life for the diamond. However, Weber is shot, and once again, Goldie is found by the police near a dead body.
Maxine Wood