An actress gets involved with a criminal gang and winds up taking the rap for a $40,000 bank robbery. Before being sent to prison, she steals the money from her partners and hides it, thinking to use it as a bargaining chip to be released from prison. However, her former partners have different ideas.

Johnny One-Eye was adapted from one of Damon Runyon's lesser-known stories. Martin Martin and Dane Cory were former partners in crime who have long since split up. When a new district attorney puts the heat on, Cory, anxious to save his own hide, accuses Martin of an unsolved murder. Holed up in abandoned house, Martin is befriended by a little girl and her dog. It so happens that the girl is the daughter of the crusading DA, and thereby hangs the rest of this tale.