If Paul Terry's staff had decided to make a cartoon that would disgust every urban dweller, they would have come up with cockroaches as a subject. Their decision to make this one is inexplicable by any other rationale.
Once you strip away that, you wind up with a standard Terrytoon. After a sequence in which the cockroaches have fun in a dirty kitchen, produce a snowstorm from flour and steal milk from a nursing baby, we get into a standard boy-meets-girl sequence. A lady cockroach, looking like a fairy, is pursued by a crooning cockroach in a sequence handled by later Famous Studios regular Bill Tytla, and a rather ape-like spider, who abducts her, followed by a general rescue sequence.
The opening sequence makes this one unwatchable for me.