In the end of the Nineteenth Century, the show boat "Cotton Blossom" owned by Captain Andy Hawks flies along the rivers in the South of North America with the lead stars Julie LaVerne and her husband Stephen Baker and musical entertainment. When Julie and Stephen are accused of miscegenation, they have to leave the boat, and Captain Hawk's daughter Magnolia and the gambler Gaylord Ravenal take their places. They fall in love for each other, get married and move to Chicago, living in a fancy and expensive hotel. However, the jinx of Gaylord consumes all their money, and later Gaylord completely broken leaves Magnolia without knowing she is pregnant. She struggles to survive, returns to her father's boat and business and raises her daughter with her parents. Years later, Julie accidentally meets Gaylord and tells him about his daughter.