Cashflow for Sam Spade and Effie Perine seems tight, but things could be going their way soon, Sam dictates his report on his job down at the race track. Hired to investigate the world of horse trainers, jockey’s, and the possibility of doping the ponies, Sam is filled in with the details. Gentle Joe Higgins is missing, and Sam hits the trail to see where he went.
The crusty old dame at the boarding house isn’t helpful, other than parting Sam from a few bucks to grease the skids to a meet up with Joe. The meeting finds Sam, not with a thump on the head, but doped up and on the floor. The incident doesn’t put Joe in a good light in the doping issue, but when he ends up dead, the focus shifts to the next suspicious character.
Evidence takes Sam back to the track, but all sign of a murder has been cleaned up. Frankie is satisfied the case is solved, and fires Sam, but the case won’t let Sam go. Dust settles, and not only is Joe alive, but he’s waiting in Sam’s office, and ready to tell his side of the story.
Danger, gun play, and fist fights explode as matters take a new turn to resolve Joe’s shady past.