Botto the Clown is in love with the much younger Blanche but she is in love with the handsome daredevil acrobate Andre.

Kulinyi, the theatre secretary in Budapest, becomes the director of a rural theatre. He takes with him a talented, budding theatre couple, Gábor Bálint and Éva Pap. He fights a hopeless battle with drunken and jaded actors, undemanding audiences, and demands the release of their untalented relatives with creditors. Finally, tired of failure, all three return to Pest. Kulinyi resumes his post as secretary. Gábor Bálint, out of options, approaches the famous actor Ferenc Tőrös and asks him to let him play the role for one night only, so that he can prove his talent.

Max suffers from drunkenness, but gets serious after he falls for the daughter of a circus director - who forbids her romance with an outsider.

Viktoria is a Hungarian countess who believes her Hussar captain husband was killed in World War I. She marries an American and resettles at the American consulate in Tokyo. Her first husband reappears, alive; and the American generously releases Viktoria from their union.

The family of a Jewish Russian manufacturer suffer ruin and murder as victims of a pogrom during the Russian Revolution.