Lou receives a telegram from his Uncle Tom that he's struck gold in Alaska. Bud takes Lou to the bank to get a loan for supplies and guides when in Alaska. They arrive to find the tellers tied up. Mike the Cop shows up and pays Bud and Lou $200 to be a partner in the venture. He begins thinking he's been taken and grabs his money back and starts to haul them off, but the pair is saved by a man identifying himself as the commissioner (Murray Leonard). The delusional man takes them to a bar and orders invisible drinks from an invisible bartender "Joe" to the confusion of Bud and Lou. Things escalate when "Joe" gets invisibly shot. They decide to try and get the money from Mr. Fields and Lou shows him the telegram. A suddenly jovial Mr. Fields offers to finance their trip if Lou will bring him back some "gold ore". A confused Lou asks, "Or what?" This begins one of their classic routines, "Gold Ore":
Lou Costello: "It can't be gold or nothing! It's got to be gold or something!"
Mr. Fields: "No no no, you don't understand, you see gold comes from ore. You see first you dig the gold - and then you smelt it."
Lou Costello: "How can I smelt it if I got a cold?"
In the apartment, Bud decides to soak his aching feet, but Lou hands him cement instead of Epsom salt. Mr. Fields tries to get him out, resulting in a barrage of physical pratfalls toward Lou.