Plot Summary

The Palooka gang is out of money again, and Knobby and Johnny try to raise some quick cash by selling phony watches. Their first sale is their last, when a burly customer realizes he's been had. Next stop, Joe, Knobby and Punchy load up at a local diner, and Knobby has a scheme to skip out on the bill. Of course, the diner owner turns out to be their watch customer, and the boys make a hasty exit with the manager's waitress girlfriend in tow. Knobby books Palooka into a local vaudeville house to put on some exhibition bouts. Of course, their friend from the diner is in the audience, with a bag of rotten tomatoes, and he's more than willing to come on stage when Knobby asks for a volunteer to box with Joe.