Penniless Dame Foxtrot doesn't know her old Grandfather Clock is a magical possession. Years ago the Fairy Queen locked into it the wicked Black Imp who menaced Fairyland. If the clock ever struck One the Imp would be freed, to the Queen took away the key. But the wicked Wizard steals the key, frees the Imp, and seeks to destroy Fairyland by using him to get the magic Jewel of Miracles. All is set for a terrific battle between the "goodies' and the "bad dies'. But after riotous adventures, good triumphs, and everyone lives happily ever after.