Slip (Leo Gorcey) narrates that he and Sach (Huntz Hall) were copy boys on the 'Daily Chronicle" when their police-detective friend, Gabe Moreno ('Gabriel Dell(I)')was shot during a holdup by The Loop Gang, and another officer killed. During their investigation, Slip accidentally wins the respect of gangster "Angles" (Mickey Knox) when he gets out of a prearranged police pickup. The Loop Gang pull another robbery and mobster Bertie Spangler (Pepe Hern) for bungling a job. Slip then realizes that "Angles" and his mob are responsible for the crime wave. Through "Angles" and "Miami" ('Richard Benedict'), Slip and Sach meet Carver (Edward Ryan), real leader of the gang, and his vampish girl friend Vickie ('Jean Dean')who immediately "goes for" Slip. His pals Butch (Benny Bartlett), Chuck (David Gorcey and "Whitey (William 'Billy' Benedict) dress like gangsters and convince Carver they are mobsters, and malt-shop owner Louie Bernard Gorcey)pretends he is their contact man. The Bowery Boys then set out to bring the gang to justice.