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A burglar called Diamond-Lasse is carrying out a series of raids in the Old Town in Stockholm, but the police have no idea of who he is. In fact, the local police officer Göransson is more focused on catching day-laborers buying illicit spirits. In the midst of this a stranger called Åke turns up. He puts up at Hotel City in the Old Town, where he soon falls in love with Elsa, a young woman who lives and works at the hotel. Åke also makes friends with two day-laborers called The Count and The Cucumber. The Count is really an aristocrat, but one who has lost everything except his noble name. He is in love with the owner of the hotel, an elderly woman called Klara, but she won't marry him until he gets a permanent employment. The Cucumber is in love with Klara's friend Amalia, but Amalia has higher plans than marrying a day-laborer. She is not good in writing, but her blind neighbor Karlsson helps her to formulate a matrimonial advertisement for a newspaper. Soon a confidence trickster, Mr. Berglund, turns up and asks for her hand. The newcomer Åke proclaims himself as being unemployed, but his new friends in the Old Town are suspicious, because he always have money and can buy legal alcohol. Elsa and The Count think that he is the burglar Diamond-Lasse, but instead of reporting him to the police, they want to help him change his life.