Peter helps out an old friend named Georgie Knapp (familiar character actor Ned Glass) by buying 500 shares of stock in Back Stage Club, Inc.- a Bridgeport, Connecticut club Georgie has opened. Horace insists on buying half of Peter's stock. In truth, the club has been a flop and Georgie owes his creditors money. His business partner Frank (Peter Leeds) talks him into getting more money from Peter. That evening Peter, Mary, and Horace go to the empty club where they are hoodwinked into investing more money. They are all soon approached at the table by a city commissioner, Mr. Canfield (Warren Parker), who attaches the property to debt. The situation puts a strain between Peter and Horace. Peter still wishes to help the man who gave him his start in show business. Peter gives his father-in-law the money, who doesn't accept it, and they reconcile. Peter and Mary performs for a week at the club to get it on its feet and recoup their investment, and help Georgie. It works. Horace begins overbearingly overseeing the staff and inadvertently makes them quit. Comically, Horace is forced to be an interruptive staff of one while Peter and Mary put on a funny musical. But, they too will be doing more than they anticipated.
Howard Smith's character Horace has developed into a good source of comedy for the series when given lines to work with. Not everyone can enjoy Peter Lind Hayes' droll style of comedy, however. It maybe so relaxed at times that it's missed by some. Here some of his acknowledged old jokes doesn't quite come off. Nevertheless, the episode picks up steam in the second half to have some nice comedy.