Herbie, Sylvie, and Harry decide to go to the movies but they get their money mixed-up with counterfeit cash. Soon the the brothers are involved with both the crooks and the police.
Mrs. Stanfield, the landlady, evicts the brothers because they are behind on the rent. The only option for Harry, Sylvie, and Herbie is a house reputed to be haunted. The boys spend a wild night in the home.
Kitty is upset that her brother has to drop out of med school due to lack of funds. Harry, Sylvie, and Herbie try to help by borrowing the needed cash but their source comes collecting landing the boys in trouble.