An old tramp, Trundle, looking for odd jobs, fascinates Sonny with tales of adventure. However, Matt Hammond believes the stories are figments of Trundle's imagination and considers it a bad association for Sonny. Trouble begins when the old swagman gives Sonny an expensive antique watch as a parting gift. Matt discovers the gift, asks the police to trace the owner… and discovers the Swagman's secret. Trundle turns out to be Miles Vincent Archer, the wealthy chairman of a vast corporation.