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Millionaire railroad baron Alex Stream is drifting apart from his wife, Hettie, who devotes her attention to climbing the social ladder. While sailing his yacht, Alex saves burlesque performer Lilly Linda from drowning, and the two become friends. Despite the chaste nature of their friendship, Lilly's boyfriend and manager, Lou Colima, notices her liking for Alex and tries to use the millionaire's letters to Lilly for blackmail.
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