Woody Woodpecker, who lives upstairs at Wally Walrus' boarding house, is enjoying a game of indoor golf while Wally takes a bath. The ball lands on Wally's head, causing a sudden end to the golf game. With nothing to do but take a bath, Woody's dime for the hot water meter falls down the drain. Retrieving his dime requires a bit of ingenuity and the help of a long wire, a wrench, a jack, a sledgehammer and finally some dynamite. The combined operations reunite Woody and his dime, but they're too much for Wally and his rooming house, each of which ends up a complete wreck.
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