As a structural iron-worker, Ned Carney firmly believes in the theory of putting money by for a rainy day. His daughter, Fay, places her little savings in the miniature savings bank, the children have established in school. Among Ned's fellow-employees on the big skyscraper, are Bill Lafferty and Red Grogan, who spend a large portion of their wages in the corner saloon. While riding a girder to the seventeenth story, Ned slips, his foot catches in the chain, and be is hanging head-down when Bill, from the top story, sees his terrible predicament, slides down the cable and hauls him back onto the girder to safety. Both Ned and his wife, Nell, are very grateful to Bill, and Grogan induces Bill to tell her a hard-luck story and secure her assistance. After recovering from his experience, Ned invests his savings in a pretty little cottage. Ned is given a special job in one of the caissons and persuades two of the sand-hogs to start a bank account. During lunch-time at the saloon, Ned knocks Bill down, in reply to an insulting remark. That afternoon, Ned goes down into the caisson alone and Grogan prevails upon Bill to take revenge on Ned by shutting off the air pressure, overcoming the man below and allowing the water to pour into the caisson. Ned has a very narrow escape from drowning, but is rescued in the nick of lime by the sand-hogs. He refuses to "squeal" on Bill, who, in gratitude, promises to reform, swears off drinking and begins to save his money. Grogan, who will not listen, goes from bad to worse, is arrested for attempted forgery and imprisoned. Five years later, Ned and Bill, now partners and strong friends, have a prosperous business of their own, as a reward of their combined thrift.