Breckenridge "Breck" Lee (Richard Barthelmess) is a young, naïve kid from the South who comes to New York to get a job as a newspaperman. After getting hired by The Press, his first assignment is to expose the existence of a newly opened gambling parlor. Gangster Louis J. Blanco (Clark Gable) attempts to bribe Lee to keep quiet. Lee refuses to accept the bribe, and publishes an article about the casino which subsequently gets raided by the police.
Mugged and severely beaten by gangsters, Lee winds up in the hospital. Upon leaving the hospital and returning to work, he longs to marry fellow reporter Marcia Collins (Fay Wray), but his meager salary combined with the hospital bill prevents this from happening. Lee attempts to seek a raise from City Editor Frank Carter (Robert Elliott), but is refused the increase in pay. Yearning for the aforementioned bribe, Lee re-approaches Blanco with a deal that he will not report on the organization's dealings in return for a fee. As Blanco pays well for Lee's un-reporting, Marcia becomes suspicious of Lee's wealth, but Lee denies any illegality in the acquisition of the money. Becoming increasingly confident of his control, Lee determines to acquire a larger share of the bribes by shaking down the gangsters.
After learning that Number One, the head of the organization, is planning on opening a new gambling house, he threatens Blanco that he will print that information unless he gets a bigger share of money. Upon meeting Number One, Lee obtains the larger graft, but is warned that if the story gets published, he will be in danger. Feeling that Lee is untrustworthy, Collins agrees to marry fellow reporter Charles "Breezy" Russell (Regis Toomey). Consequently, Lee decides to go straight and leave the city with Marcia if she will marry him. She acquiesces, but "Breezy" publishes the gambling story, hoping to impress Marcia. The following morning as Lee and Marcia are getting ready to leave, "Breezy" shows up with his story in the newspaper. After Lee sees it, he decides to go to the bank to retrieve his money despite Marcia's pleas not to. Lee is followed and killed by gangsters. At his funeral, Lee is named as a hero. Marcia stays quiet, although she knows the truth.
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