Warner Baxter plays the carefree scion of a wealthy, highly-respected family. Baxter's cold but socially correct wife Helen Vinson forces her husband into the family business, but Baxter would rather spend his time at the racetrack. He buys a nag named Broadway Bill and tries to build the horse into a winner, if he doesn't bankrupt himself first.
Only Baxter's sister-in-law Myrna Loy and black stable hand Clarence Muse have faith in Broadway Bill. The horse wins a crucial race, but dies suddenly at the finish line. Baxter is comforted and given encouragement by Loy, who is now his sweetheart, Vinson having long since washed her hands of her "irresponsible" husband.
Special Notes: Written by Robert Riskin this film is based on the short story Strictly Confidential by Mark Hellinger. Director, Frank Capra disliked the final product, and in an effort to make it more to his liking, he remade the film in 1950 as Riding High.