The Broadway Drifter.

Bob Stafford, the wastrel son of a wealthy businessman, is disowned by his father for his reckless and irresponsible ways. He changes his name and opens a gym for wealthy young girls, hoping to land a rich and pretty wife. He meets and falls for pretty young Eileen, but a rival soon drives him out of the gym business. He gets a job in an airplane factory owned by Eileen's father, who is soon told by a rival that Bob is really out to steal a new airplane invention so he can give it to his father.