 Joe Palooka (Joe Kirkwood Jr.) kayos Cardona (Suni Chorre), but the latter protests that he can beat the champ in his own country - South America. Cardona s manager, Anton Kindel (Marcel Journet), persuades Palooka s manager, Knobby Walsh (Leon Errol), to agree to a return bout in South America in the summer, but Knobby doesn t realize that the South American summer is only four weeks away. When Anne Howe (Elyse Knox) can t accompany boyfriend Palooka on the S.S. Valora, she secretly becomes a reporter assigned to report on his training aboard ship. Myra Madison (Sheila Ryan) and Chick Bennett (Harry Lewis) plot to get $20 counterfeit plates to South America, but the plates are stolen from her hotel room. Other ship passengers are Austin (Walter Sande), an investigator posing as a writer, and Professor Lilliquist (Ian Wolfe), on his way to the Museum Nacional. Ship Captain Lance (Douglass Dumbrille) announces that, following a knifing, Austin is dead. He was only wounded and asks Joe and Knobby to help him get the counterfeiters. The Professor asks Joe to deliver an ancient Inca statue to the museum, and during the night the statue is switched for one containing the plates.