Spanky has been appointed treasurer of the gang's new club, and as such, keeps their money in an envelope. Meanwhile, his forgetful father needs a reminder from the maid that it's his wedding anniversary, so he places an envelope of money on the kitchen table as a gift for his wife. Unfortunately, his absent-mindedness leads him to then place the envelope in a book he's carrying (""How To Improve Your Memory"") and walk out the door. Then Spanky comes in and sets the gang's envelope on the table. When his mom walks into the kitchen, she sees him take the envelope and find a hiding place for it. She goes to her husband's office and reports this incident, and he calls the maid to send Spanky over there right away. This turns out to be impossible, though, since the club has just broken up, and the gang is demanding their money, which is no longer in Spanky's hiding place.