A musical remake of Ninotchka: After three bumbling Soviet agents fail in their mission to retrieve a straying Soviet composer from Paris, the beautiful, ultra-serious Ninotchka is sent to complete their mission and to retrieve them. She starts out condemning the decadent West, but gradually falls under its spell, with the help of Steve Canfield, an American movie producer.

Sisters Ruth and Eileen Sherwood move from Ohio to New York in the hopes of building their careers. Ruth wants to get a job as a writer, while Eileen hopes to succeed on the stage. The two end up living in a dismal basement apartment in Greenwich Village, where a parade of odd characters are constantly breezing in and out. The women also meet up with magazine editor Bob Baker, who takes a personal interest in helping both with their career plans.

Cagney is Danny Kenny, a truck driver who enters "the fight game" and Sheridan plays his girlfriend...