Young Jörgen Steenfeld is the heir of it over the chimney-indebted estate Steensgaard and unable to clear up its finances. He is being looked after by his old friend, “Mästerkatten”, ie the enterprising, charming but somewhat irreplaceable Karl Konstantin Kattrup, who has been relegated from the university. Kattrup, involved as a manager at Steensgaard. Steenfeld receives visits by county governor Markdanner and her daughter Rose. The Countess is planning a marriage between Rose and Jörgen, but Jörgen is secretly in love with the orphan Helga Anthon, called Pips. The conditions are further complicated by the appearance of Kattrup and Rose.