The title tells all in the Monogram "expose" Black Market Babies. Alcoholic physician Dr. Jordan (Ralph Morgan) joins forces with gangster Eddie Condon (Kane Richmond) and shyster lawyer Anthony Marco (George Meeker) in a crooked adoption racket. Coercing unwed mothers to give up their babies for adoption, the unholy trio operates a supposedly philanthropic baby farm which caters to childless couples who have been frustrated by the legal adoption system. The villains rake in oodles and oodles of cash before the authorities close in. But once the jig is up, the crooks fall out, resulting in murder.