Princess Triloff, an emigrée from Czarist Russia, escapes to America where she becomes a patron of the arts. She falls in love with the verses of impoverished poet Owen Carey and becomes his anonymous benefactor. When Owen inherits a fortune from his rich Uncle Krakerfeller, he assumes his uncle's identity and confers his own upon an impoverished friend, Frank Manners. At a resort, Owen meets the princess and falls in love with her, but is chagrined to discover that she is enamored with Manners....