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After he accidentally causes the death of his partner, trapeze artist Bill Ryan leaves the circus and sinks into an alcoholic mire of self-pity. Things look up when elegant Jackie Field takes interest in Bill, but she hides a sinister motive. Ignoring Kitty, the shopgirl who adores him, Bill falls for Jackie and joins her gang of thieves, but the daring stunt she has him perform may lead to disaster.