Lionel is at his cheap office reading a Matt Savage detective novel when the phone rings. A man who refuses to give his name says that he wants to hire the Lionel Whitney Agency, and has left $1,000 in his mail chute. The man insists the case is delicate and he'll reveal himself eventually, and then gives Lionel directions to meet him.
E.L. is running a con at a car shop as a Mozambique undersecretary buying limousines in bulk. He wants one since his own car has been repossessed. Someone pages him by his real name and he takes the call. Lionel tells him what happened and E.L. suggests he just keep the money. However, his partner wants to take the case and help someone, and tells E.L. to come looking for him if he doesn't show up in two hours. E.L. would rather get some girls but Lionel insists he knows what he's doing. He gets his gun and his trench coat and goes to the rendezvous address
E.L. drives his newly acquired limo to the address and discovers that it's a junkyard. Lionel gets there separately and E.L. ducks down low to avoid detection. Lionel doesn't find anyone, but a man shows up with a gun and takes him captive. He tells his prisoner to drive down the street to another junkyard, and then removes the distributor cap and puts a blindfold on Lionel. Then he takes him to meet their client, Kingman, who apologizes for the inconvenience and takes a photo of Lionel. Kingman gives Lionel a picture of a girl, Susan Lardner, along with an address and two torn halves of $1,000 bills. He'll call every hour and send the other halves of the bills once Lionel reports he's found Susan. When Lionel wonders why he wants the girl, Kingman says she's just someone he once knew. E.L., who has followed them, knocks over a hubcap and Kingman's goon opens fire. They drive away, hitting the limo in the process. Afterward, Lionel is angry that E.L. tailed him and E.L. isn't happy with Lionel getting them in trouble.
Back at the office, Lionel still wants to find Susan and wonders why Kingman took a photo of him. E.L. wants to quit and suggests their partnership isn't going to work unless Lionel learns some caution, but Lionel insists on taking the case and orders him out. Once he's gone, E.L. has second thoughts and goes after him.
That night, Lionel and E.L. arrive at the address and find the police there at what is now a dance club. Lionel remembers that it used to be the Rosalind Roof and Ballroom, where Maud Allen was murdered in the 1940s. The case has never been solved. E.L. figures that Susan was a hostess. They go in and ask the ticket girl for information, but she just wants them to pay and dance. As they go in, E.L. suggests that Lionel try something a little more subtle than announcing he's a private eye. Lionel starts scouting the location and tells one of the girls, Susan, that he's there to set up a film production. Susan is eager to help and E.L. asks to see the ladies room. He tells Susan he's going to film and sends her to find Mr. Tucker, and then checks out Susan's locker. Inside are books on how to be a dental assistant, and an address written in one book.
Lionel passes himself off as Susan's brother to one of the hostesses, but she quickly sees through his act. He tells her the truth but two bouncers arrive and take him backstage to find out what happened to Susan. E.L. hears them, grabs some cleaning powder, and sprinkles it on his temples. Meanwhile, the two thugs, Mickey and Split, explain that an unknown man was killed in the alley later that night and Susan fled afterward. When they get impatient with Lionel's answers, they prepare to beat him up. E.L. comes out and claims that Lionel is a mental patient who thinks that he's a detective. Lionel plays along and they almost pull it off until the thugs realize that Lionel couldn't have known about Susan. They open fire but E.L. quickly drives away.
As the partners stop for gas, Lionel is disappointed that they didn't get anything. E.L. tells him the address he got from the locker, while Lionel explains about the dead man in the alleyway. They go to Susan's address, unaware that man is watching them. Susan answers the door and E.L. claims to be the building manager. He talks them in but Susan quickly realizes they're not inspectors. Lionel explained what happened and Susan realizes that Kingman is trying to kill her. Two men tried to grab her at the ballroom, took her out to the alley, and a third man appeared with a briefcase. They started shooting at each other and she ran, and she realizes that her friend Bill knows where she lives. She also received a briefcase from a man claiming to be from the gas company. They discover it's filled with money and figure it's time to go. They grab her cat Clearance and set her up at an expensive apartment that E.L. managed to "procure." Lionel tells him that he can't scam people since he's on parole, and he'll make E.L. pay. At the window, Susan talks about her friend Bill Kingman, and his expensive house where he shows movies.
They compare notes and realize that Bill Kingman is the son of Kingman Broadcasting's owner Chase, with properties across the state. She's three months pregnant with Kingman's child and asked him to help pay her bills. He didn't send her money, but then the gas company man arrived and gave her the money. Lionel checks the thousand dollar bills in the briefcase and discovers that the serial numbers are very closely related. Lionel and E.L. both agree to take the money to the police in the morning. Susan thanks them for their help and admits they're the first ones who have done anything to assist her. Much to E.L.'s disgust, Lionel offers to dance with her.
Later, Lionel beds down and reads more of his Mark Savage novel. He hears a scream and runs out to find the man from the apartment abducting Susan. Lionel makes a mess of a karate kick and the man warns them off before leaving with Susan. E.L. and Lionel take the rear exit and run down to the parking garage. Kingman's thug Stubby and his associate Chick arrive, open fire, wound Susan's abductor, and escape with Susan. They figure Susan's first abductor is the gas company man.
Kingman meets with his father Chase and explains that he couldn't just pay off Susan, and he took steps to eliminate her. But then the guy he hired to kill her shoved a gun in his face and demanded $40,000 for Susan. Kingman figures they'll have to kill Susan. Disgusted at the son he was grooming for a governorship, Chase makes a call to take care of it himself.
At the apartment, the abductor, Joe, explains that he's a hitman, but he only kills people who deserve it. He explains that Kingman hired him to kill Susan but he figured that Susan deserved the money, took the $40,000, and gave it to her. E.L. and Joe figures there's nothing they can do, but Lionel figures that Kingman took Susan to his manor and they should launch an attack. E.L. is reluctant to do it but Joe is willing. Now Lionel wonders why they took his picture.
Bill shows Lionel's photo to Chase, who calls in a fixer, Stan. Stan talks to Bill privately and tells him he's sending a couple of "accountants" to take care of things. However, he warns that Bill will have to help clean things up, and he shouldn't tell Chase anything. When the accountants arrive, Bill has to help them get rid of Susan and Lionel.
The next morning, Chase leaves for the airport. As soon as he's gone, Lionel, E.L., and Joe pull up in the limo and climb over the wall. Bill meets with the accountants, who inform him that he has to come along and kill Susan himself.
Bill and the thugs go out back to shoot Susan, and Lionel and the others find them. Lionel wants Joe to shoot the gun out of Bill's hand, but Joe notes that it's not a movie. Instead, Lionel takes the gun, shoots, and pulls it off. He and E.L. rush in while Joe provides cover fire. A few karate moves and kicks and the bad guys go down. Lionel frees a grateful Susan and assures her that everything's okay.
Later, Lionel is finishing his Matt Savage novel, satisfied that everything is wrapped up. Matt Savage gets the girl, E.L. wants them out of the apartment before the owners catch up to him, and he ends up with Clarence the cat in his bed.
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