Based on

Movies like The Last Four on Santa Cruz (1936)

An author, a businessman, a shipowner and a publisher form a business venture, which will supposedly exploit a huge find of lobsters on the island of Santa Cruz. After a report in the newspaper, the business' stocks do well. But the partners quarrel with one another and it doesn't help that there aren't any lobsters on Santa Cruz after all. Nevertheless, a team heads off to the island in a decrepit boat to open up a cannery in vain.