Corsair plot
Catalina Island, 1931. The wealthy and spoiled Alison convinces her father and 'Wall Street' banker, Stephen Corning, to hire her newest friend and skipper of the 'Corsair' John Hawkes. However, Hawkes disapproves of Corning's callous business practices and is fired for refusing to sell a questionable stock of goods. To win back Alison Corning, John starts a business together with his regularly tipsy loyal friend 'Chub' Hopping. John and Chub steal a shipment of alcohol from mobster Big John and sell it to Corning. However, Big John turns out to work for Corning and he now pays twice for his own drink. Big John's gang members Slim and Sophie also work for John, but are killed by Big John's ruthless henchman Fish Face. Despite the tough business world, John hopes to prove himself right to Corning and be worthy of his daughter Alison.