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The sponsor holds a stock holder meeting, and it’s decided to give Phil a stake in the company. Not a lot. Just one share. When Phil gets notified,, it interrupts the typical breakfast chatter with the girls, Alice, and Willie. The letter doesn’t specify how much ownership he will be wielding. Naturally, with his celebrity status, he figures it will be substantial, and he can prove Willie wrong about his business skills. Phil sings, Smoke Smoke Smoke that Cigarette. .
Glad to be a big business mongrel, Phil tells Frankie about the good news. Frankie is less than impressed with the financial wizard. He agrees to take down a letter, telling Jack Benny off, and saying Phil is quitting the show. Is Phil jumping the gun? A love struck Julius pours out his emotions to Alice, then agrees to deliver the letter to Jack. Alice sings, Stanley Steamer.
Day dreaming about his inflated finances, Phil plans on showering Alice with a new house, and all manner of luxuries. While Phil is at band rehearsal, Alice gets word from the sponsor that Phil’s stock will be frozen for a little while. Dealing with his unruly band, Phil realizes he has to wait to be rich, but what about that letter of resignation with Jack? Can he intercept it? A phone call saves the day for Phil when Jack claims he can’t read Frankie’s bad typing.
