- Rudolph Klein, a German spy, tries to persuade his brother Herman, a trusted employee of the Spencer Steel Works, to blow up the munitions factory. When World War I breaks out, Spencer's son Graham decides to enlist in the army, but when his mother Natalie, a cold-hearted social butterfly, objects, he wavers in his decision. Rudolph persuades Herman that Graham is trying to seduce his daughter Anna, and, for revenge, Herman finally agrees to blow up the plant. Anna overhears the conspiracy and rushes to warn the Spencers, but gets caught in the explosion instead. Her death cements Graham's resolution to enlist and he goes off to war. Natalie then decides to leave Spencer, freeing him for Audrey Valentine, a widow who has lost her son at the front.—AFI
- In the period before World War I, Clayton Spencer owns the Spencer Steel Works. His wife Natalie is more interested in throwing parties. Herman Klein, a longtime employee of the Spencer Steel Works, quits his job when he realizes the plant is making ammunition against the Germans.
His brother Rudolph, who is a German spy, attempts to coerce Herman into joining a band of saboteurs who want to destroy the plant, but Herman refuses because of his loyalty to Clayton.
Clayton is friendly with Audrey Valentine, whose son has enlisted with the Canadian forces. Clayton's son Graham is loved by his secretary Anna Klein, the daughter of Herman Klein.
When Graham gives Anna a watch as a token of friendship, she wears it and Rudolph uses this as a way to inflame Herman against the Spencers. Herman, believing Anna has given up her honor, beats his daughter with a strap. Later, Anna telephones Graham to tell him what happened. Graham quickly arranges for Anna to stay in a boarding house. Rudolph finds Anna and takes her back to Herman, who now thoroughly hates the Spencers and wants revenge. As part of the plot, he asks Spencer for his job back. When America enters the war, a fight erupts between Graham and his mother, since he has decided to enlist. Clayton is proud of his son's decision, but Natalie convinces the boy to give up the idea. Clayton consoles Audrey when he discovers her son has been killed in action.
Without telling Clayton, Audrey goes to work at the factory to do her part for the war effort. Anna overhears the plot involving her father and Rudolph's plan to burn down Spencer's factory. Herman enters the factory with a gasoline can. Anna rushes to the factory, but it is already on fire. Audrey, trapped in the blaze, telephones Clayton from the switchboard.
Clayton and Graham rush to the scene. Clayton is able to save Audrey, and confesses his love for her. But Anna dies in Graham's arms.
Herman is arrested. Graham is now even more determined to enlist. Clayton and Natalie agree to go their separate ways, and Clayton ends up with Audrey. Two months later, while in uniform, Graham is greeted by Delight Haverford, who has always loved him. Graham asks her if she will wait for his return, and she says yes.
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