Cinders, a news girl, with a love for books, idealizes as her hero a “Daddy Long-legs,” who will someday make her a great lady. Bill Holt, a reporter, is one of her best friends. Walter Crane and Kirkland Gaige observe Cinder’s independence as she turns over to a policeman a man who has been annoying her. Later Crane wagers $50,000 that within a year he can transform and improve the girl that one of the men will want to marry her. Crane places her in the care of his aunt, who sends her to a boarding school. At the end of a year she returns home and at once becomes a favorite. Cleo Duvene, an adventuress, demands of Gaige a necklace which he is unable to purchase. Crane meets with reverses and Gaige, anxious to win Cinders, reveals the bet, suggesting she marry him in order that Crane may realize the $100,000 stake. She refuses and goes to her friend. Holt, securing a position as reporter on the paper. Crane accepts the position of assistant cashier in the bank of which Gaige is vice president. In order to buy the necklace for Cleo Gaige takes a bag of currency and Crane, accused of the theft, is placed in jail. Cinders goes to Gaige and by placing chewing gum on the end of her umbrella, picks up the pieces of a receipted bill for the necklace. She gets into the apartment of Miss Duvene, and is demanding that she tell all she knows of Gaige just as he comes in. They bind Cinders but she manages to get the telephone receiver down, calls Holt, who hears the conversation of the three, and with Crane and a policeman apprehend the guilty man just as he is about to escape. Crane frees the brave little girl and takes her to his arms with the statement that it pays to lose some bets.