The well-known explorer and hunter Captain Spaulding has just returned from Africa, and is being welcomed home with a lavish party at the estate of influential society matron Mrs. Rittenhouse when a valuable painting goes missing. The intrepid Captain Spaulding attempts to solve the crime with the help of his silly secretary Horatio Jamison, while sparring with the anarchic Signor Emanuel Ravelli and his nutty sidekick The Professor.

Buster Keaton's first starring role in a talking motion picture.

The story follows a bankrupt costume shop owner, Mr. Schmidt, who spends his time building fantastical Rube Goldberg-style inventions rather than attending to his business. When creditors send a young manager to take charge—who quickly falls for Schmidt's niece, Louise—Schmidt's friends, Ted, and a group of goofy firemen step in to try and save the shop, leading to a chaotic slapstick rescue during a major fire.

Set during the chaotic 1920s Florida land boom at the Hotel de Cocoanut. Groucho plays Mr. Hammer, the hapless hotel owner trying to avoid bankruptcy, while Chico and Harpo play a shady duo planning to rob the guests. Zeppo acts as the straight-man clerk (Jamison), and Margaret Dumont makes her first appearance as the wealthy society matron and ultimate straight woman to Groucho.