Time for some 1930s shenanigans. Spoilers ahead.
Jack Haley (the Tin Man from the Wizard of Oz) is a barber named Joe whose richest client dresses him up and sends him to a party. However, everyone at the party thinks he is his client, Aloysius P. Merriweather, and that his natural clumsiness is part of his party boy persona. Patricia 'Pat' Randolph (Betty Furness) has strict instructions to keep Merriweather happy so her desperate father can make a business deal with him. Pat’s plans go array when she and Joe end up stranded overnight.
Joe desperately wants the real Merriweather to come fix the mix-up and constantly calls out for his “fairy godmother", not knowing that he real millionaire is in the hospital after a car crash. Pat is the only one who knows who Joe really is and she wants him to keep up the charade for the sake of her father’s business deals. All of this backwards rags-to-riches tale comes to a head when Merriweather’s secret wife, her murderous brother, and a cop attempting to protect Joe all arrive at Pat’s father’s house.
Eventually, the real Merriweather shows up, desperate to see his wife. However, his gun-toting brother-in-law and the wife finger Joe to save the real Merriweather. Enter a chase scene which will be someday stolen by Scooby Doo and the truth finally has out. Joe saves everyone from bankruptcy using trickery and he is able to marry Pat.
In the end this is a Cinderella-story with the twist of the Cinderella having to save the money in order to marry into wealth.
Interestingly, Haley is trying to deal with an unconscious woman and pulls her up by the arm and make a moaning sound exactly like in the Wizard of Oz when Dorothy is in the poppy field.
