Spendthrift plot
"He ran a fortune into a shoestring in his hunt for romance!"
Once-wealthy Townsend Middleton must sell his polo horses to enter his filly Black Mamba in the Kentucky Derby. He loses everything he has left, but then marries the money-hungry Sally Barnaby, who mistakenly believes he is still a millionaire. Valerie, Middleton's loyal trainer, manages to hide Black Mamba from being taken back by his creditors. Despite being broke, Middleton finds it impossible to resist his new wife's extravagant demands. Eventually, Middleton realizes he is better suited to Valerie and, with the help of a very wealthy uncle, sets out to restore his fortune while Black Mamba attempts to win an important race.