An adventurous captain Boll (Fred MacMurray) of an American merchant vessel - is looking for a sunken Dutch vessel that contains 10,000 diamonds. However, he is not the only one searching for this treasure. The island where the diamonds are supposed to be has an active volcano on it. Native girl Kim Kim (Vera Ralston) falls in love with him and defies local laws to help him. She is punished by the island rulers, compelling Capt. Boll to spirit both Kim and the pearls off the island. As they make a last desperate attempt to escape, a lava-spewing volcano threatens to destroy the island.
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