Thaddeus Plummer is nicknamed "The Worm" because his job involves boring holes into furniture to create counterfeit antiques. One day, he buys an oriental rug and is nearly fired when his employer, Pat O'Donnell, alias Abdul Ishmid, deems it worthless. Thaddeus learns that he has purchased a "wishing rug" and his luck improves when he tests its powers. He wishes to see his sweetheart, Clara Ridder, and is rewarded. After a wish for $1,000 is granted, Thaddeus buys the antique shop and marries Clara.