Lucy is preparing breakfast when Ethel comes over to deliver money for the club bazaar. Lucy hides it in her purse because she doesn't want Ricky to know that she working on another club fundraiser. She also shows Ethel the loot in the hall closet that she hiding from Ricky for the bazaar. Ethel rushes off when Ricky comes in for breakfast. Before leaving he asks Lucy for cab fare. In reply she tells him to check her purse forgetting momentarily that she put the club bazaar money in there. But she's too late Ricky sees the huge wad of money and wants to know where it came from. Lucy says she stole it. Ricky doesn't believe her and mentions that he wants an explanation when he gets home from work.
Later that day Ricky comes from work looking for Lucy. He looks for her in the kitchen. Lucy comes in asking for Ricky but he doesn't answer. She starts bringing in items for the bazaar, putting them in the hall closet. Ricky is stealthily peeking through the kitchen door. Ethel drops by to ask Lucy for a favor. She wants to get rid of Fred's cuckoo clock. She tels Lucy to go to their apartment where the two clocks are on the table. Lucy is supposed to take the cuckoo clock. She agrees.
Ricky goes downstairs looking for Fred. But Ricky doesn't see him when he enters the apartment but hears his voice. Fred is behind the sofa fixing a leg that keeps falling off. Ricky mentions that he's worried about Lucy because she's stealing things. Fred thinks he's mistaken and asks for Ricky's help with the sofa leg. They remain quiet and hidden when they hear Lucy call. she takes the cuckoo clock and apple, hiding the clock under her coat. When they come out of their hiding place Fred can't believe it and he wants his clock back. In hopes of catching her in the act the boys take the back stairs to meet her in the Ricardo apartment. When she's caught Lucy fails to admit that she took the clock. But the cuckoo clock starts going off with Lucy's excuse that she's practicing her bird calls. She escapes into the bedroom while Ricky calls a psychiatrist.
Ethel comes upstairs to tell Lucy what she overheard. Ricky thinks she's a thief. She decides to really pretend that she's a thief and that Ethel is going to help her. But Ethel balks at the plan until Lucy blackmails her saying that she's going to tell Fred that she told Lucy to take the cuckoo clock.
Ricky brings home Dr. Tom Robinson, a psychiatrist. Fred joins them because he's looking for Ethel. In the cigarette case is jewelry. Under the chair cushions is a crowbar, a blow torch, and the blueprints for a bank. The girls come up with guns and bags of money. To cure Lucy of her stealing Dr. Robinson hypnotizes her. She tells a made up story says her stealing started when she was a little girl. She then claims that she's cured when she says she went to the story and got "the kleptomaniac's dream" which she retrieves out of the bedroom. Lucy leads out a baby elephant!