Olive Granger, an heiress survives a shipwreck in the South Seas and is washed ashore an island along with international crooks Irene Carlton and Fred Morgan, who steal her credentials and escape to America, where Irene poses as Olive. Paul Patterson and Jan Boomer, divers, find Olive abandoned in a cave and fight through the jungle in competition for the girl. While diving for pearls, the treacherous Boomer dies in the clutching coils of a giant octopus. Olive and Paul arrive in New York, expose the impostors, and get married.
