Eddie Quillan and Wally Vernon are barbers who have invented a new, flexible steel blade. They think they have a fortune made if they can find a backer to invest some money. One day, Eddie shaves off part of a customers toupee, and he departs vowing vengeance. They go to a party honoring a rich, steel magnate, in the hopes of getting him to invest in their new razor, and he turns out to be the irate, toupee-shaved customer.

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