Jack Parker is an up and coming young hustler who wants to become part of Frank Nitti's organization. He thinks there's an untapped market on university and college campuses but Nitti thinks he's just a nickel and dimer and isn't interested. Parker has been making his own booze and selling it through Benny Angel, who hangs around the campus actually selling the stuff to the kids. Parker decides to get Nitti's interest by secretly arranging to sell wood alcohol to students and then convincing Nitti that he can make sure the stuff sold to students is clean.

Mobster Victor Salazar is out to steal a commercial shipment of morphine destined to a Chicago medical facility. Before he can do so however, it's snatched out from under him by one of his henchman, Steve Ballard. With Eliot Ness and his men have been keeping a close eye on Salazar, the drug kingpin desperately tries to find the junk. What he doesn't know is that another of his underlings, Barney Howe is actually Barney Retsick, a Federal narcotics Agent. Retsick and Ness work together to arrest all of the criminals before the narcotics, disguised as children's candy, hits the streets.