Lady Galina More and her brother, Georgie, the Earl of Ranmore, are in despair because they own two large historic houses which are entailed.
Georgie decides he will have to marry an American heiress, so he opens his house in London, but has no idea how he can staff it or afford to entertain.
He meets Mr. Craig Farlow, one of the richest oil millionaires in America who has brought his daughter, Ellie-May, to London as he wants her to marry a title and he becomes a tenant at Georgie‘s house in Park Lane.
Galina has been a huge success because of her beauty, but she is determined not to marry anyone unless she is in love. When she meets Lord Bramton, she loses her heart, but knows it is hopeless as he is as poor as they are.
Because Ellie-May is attracting so much attention, the Prince of Wales becomes interested, so they all invited to Sandringham. In the meantime Georgie has gone off to America to see, if by some miracle, he can find one of the fabulous oil wells.