Loring "Red" Nichols is a cornet-playing country boy who goes to New York in the 1920s full of musical ambition and principles. He gets a job playing in Wil Paradise's band, but quits to pursue his dream of playing Dixieland jazz. He forms the "Five Pennies" which features his wife, Bobbie, as vocalist. At the peak of his fame, Red and Bobbie's daughter, Dorothy, develops polio...