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Mike Clancy, the owner of the café that Horace DeBussy "Sach" Jones, Stanislaus "Duke" Coveleskie and their Bowery friends Chuck, Myron and Blinky frequent, is told by his doctor that he needs to take a rest in the country because his asthma is not improving and he is overworked. The doctor's suggestion that Mike buy a place in the mountains is overheard by crooked real estate agent Harry Shelby and his assistant-girlfriend Dolly Owens, who see the opportunity to unload a derelict farmhouse owned by a gangster's widow. Mike is persuaded to buy the place, sight unseen, and is horrified when he and the Boys drive there and discover that the property is in an extremely dilapidated condition. Although the Boys claim that they can fix the place up, Mike phones Shelby to demand his money back, but Dolly answers and lies that Shelby is out of town. While cleaning up the place, Sach causes major electrical and plumbing disasters when he attempts to fix a leaky faucet. Angered by Sach's blunders, Duke chases him, causing him to collide with a wall. After the collision dislodges a pile of cash from its hiding place, the Boys search the rest of the house for more bills, but find none. When Mike, Duke and Sach visit Shelby's office to pay off the balance of the purchase price of the house, Shelby wonders where they suddenly found all the cash. After they leave, Snap, Ziggie and Ernie, three friends of the late gangster, who claim to represent his widow, arrive and tell Shelby they will deliver the money to her. Realizing that the money may be part of the proceeds from a robbery in which they all participated, Snap tells Shelby to offer to buy back the property from Mike at twice the original price. Soon after, the Boys are at the café discussing how to invest the cash when Shelby comes to make his offer. After Mike refuses all of Shelby's offers, Shelby mentions that the house is rumored to be haunted and reminds Mike of his delicate state of health, causing Duke to suspect that Shelby knows something about the hidden bills. Hoping to persuade Sach to reveal why the house is in such demand, Shelby asks Dolly to romance him. While the Boys are preparing to leave for the house, Dolly invites Sach to her apartment and after she gets him tipsy, he tells her about the money. After Duke manages to locate Sach, they and the others head for the house, arriving during a thunder and lightning storm. Sach and Blinky share a room, but are soon disturbed by two "ghosts," who also tie up and gag Chuck and Myron. Meanwhile, Snap and his sidekicks enter the house and search for the cash, which they believe rightfully belongs to them. While Sach is trying to flee from one of the ghosts, he accidentally discovers a revolving wall with a shelf containing several bags of money. When Snap and his friends try to relieve Sach of the cash, he tricks them and knocks Snap's gun out of his hand, causing it to fire. The shot alerts Duke, Mike and Blinky who then overpower the gangsters. As two ghosts enter and demand the money at gunpoint, a police lieutenant and three officers, who have been following Snap, arrive and arrest them. The lieutenant removes the ghosts' hoods, revealing Shelby and Dolly. Later, the Boys think Sach is playing a joke on them by dressing as one of the ghosts, until Sach suddenly shows up as the ghost disappears through a wall. At a party to celebrate the recovery of the cash, stolen in an armored car robbery, Sach poses for photographs with two attractive young women and claims to be the bravest man in the world until Duke dons one of the ghost outfits and terrifies him.