On a dark and stormy night, four bored ghosts decide to have some fun by calling the Ajax Ghost Exterminators.
After a short introduction, one of Neptune's mermaids is captured by a pirate ship, and their anchor chain entangles King Neptune; the various sea creatures launch a full-on assault on the pirate ship, and eventually the giant King himself gets free and creates major havoc for the ship.
A chorus girl and a heavyweight boxer are paired romantically as a publicity stunt.
