Carlos Lopez is a handsome Argentine sportsman. Many women love him and he toys with them all. His days are filled with romance and intrigue and he manages to get himself feared and hated by most of the married men in Buenos Aires.
In San Francisco, Sylvia Douglas and her fiancée, James Callahan, a reformed crook, make their getaway after Jim, disgusted with his inability to find a job, un-reforms and steals a diamond necklace. Graham, a detective, gives chase to a desolate island in the South Pacific where a rum-running gangster, Murdock, holds him captive. Callahan becomes infatuated with a native girl, Leona, and Sylvia turns to Graham for protection against the offensive Murdock. A volcano eruption causes problems for all.
Harvey, the arrogant and spoiled son of an indulgent absentee-father, falls overboard from a transatlantic steamship and is rescued by a fishing vessel on the Grand Banks. Harvey fails to persuade them to take him ashore, nor convince the crew of his wealth. The captain offers him a low-paid job, until they return to port, as part of the crew that turns him into a mature, considerate young man.
Newly appointed sheriff Pat Garrett is pleased when his old friend Doc Holliday arrives in Lincoln, New Mexico on the stage. Doc is trailing his stolen horse, and it is discovered in the possession of Billy the Kid. In a surprising turnaround, Billy and Doc become friends. This causes the friendship between Doc and Pat to cool. The odd relationship between Doc and Billy grows stranger when Doc hides Billy at his girl Rio's place after Billy is shot.