In New York City, orphan Tim Kelly (Jackie Coogan) finds himself free of his orphanage after a fire leaves his caretakers presuming him a victim of the blaze. No longer confined to the facility, Kelly still needs to elude capture by the police as he wanders the streets. While avoiding detection, Kelly happens to jump into the wagon of an old junk dealer, Max Ginsberg (Max Davidson). Despite Ginsberg's initial reluctance, they forge a partnership that leads them through success and failure.