With her Massachusetts farm in debt, Ann Porter is amazed to hear a deceased uncle has bequeathed her his estate. When she and Aunt Nellie go to New York City to claim the inheritance, it turns out to be an ice-skating rink in rundown condition.
Jeff Stewart advises her to sell to ice-follies owner Duke Baldwin, but since Duke is a gangster who put her uncle out of business, Ann's not interested. She takes her skating troupe back to her farm's frozen pond and stages a show outdoors for friends and neighbors to see. A nutty professor, Theophilus J. Twitchell, is encountered by Nellie and vows to finance Ann's next show.
Jeff tries to make amends. He learns that Twitchell's "fortune" comes from a radio contest he intends to win. Jeff fixes it so that he secretly funds the professor's winnings. Duke tries to persuade Ann that he's still got Jeff in his pocket, but she sees through it and joins forces with Jeff to stage an all-new revue.
