The action opens in a smoky bar in Manhattan. Elisha J. Whitney, a Wall Street tycoon, is enjoying his seventh drink while waiting for his assistant, Billy Crocker. Billy enters, and Whitney chastises Billy for his tardiness; Billy explains that he was “taking care of business” and pulls out Whitney’s steamer ticket and some UK currency. He’s forgotten Eli’s passport, but reassures him that he’ll get it to him in the morning. Eli says he wants Billy down at Wall Street in the morning to sell all his shares of Amalgamated Petroleum; he’s gotten an insider tip. Billy asks Fred if there were any calls for him at the bar from Hope Harcourt, Fred tells him that there weren’t, but that “a lady came in asking for you.” Reno Sweeney, the famous nightclub singer enters: “He’s wrong, Billy. It was only me.” Billy realizes he’d forgotten his date with her, and blames the fact that Eli is going to London in the morning and he “had to do a thousand things for him.” Reno says that she’s going to
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