Chalky White and Milton, the man he escaped the chain gang with, break into a house Milton claims has a safe full of cash. While snooping, they're confronted by a teenage girl named Fern. Milton pulls a gun on her and orders Chalky to look for others when the girl's mother comes down the stairs.
1884. Enoch works as a bellboy at the Corner Hotel, serving drinks and tending to guests. Among them is a young man named Beckert, who asks Nucky to deliver a bouquet each day for his girlfriend.
Nucky meets with Mickey Doyle at the Old Rumpus, the burlesque club that replaced the Onyx. He orders Mickey to round up his workers at the warehouse for protection. Nucky takes a call from Sally in Cuba, and she assures him that Bacardi's Maxim Ronis is fine, but eager for a bigger payout. Nucky tells her that Senator Lloyd has "flown the coop," but he has a "big fish coming down from Boston" looking to get into the liquor business.
Margaret is questioned by Conors & Gould's in-house attorney about her late boss's business with "Abe Redstone," a known alias of Arnold Rothstein. Despite Rothstein having been dead since 1928, the attorney explains, his account has been "very much alive." Aware that Bennett was playing the market with Rothstein's money and losing, Rothstein's widow, Carolyn, plans to take legal action. The attorney points out that Margaret signed the withdrawal slips.
Fern and her mother, Marie, sit on the couch opposite Milton, who refuses to believe there is no money. Milton recalls delivering ice for a party at the house years ago and insists there is a safe. He forces the women to take him and Chalky to the cellar to look for it, but when the safe can't be located, Fern tells Milton their father moved all their money to a safety deposit box in town.
Lucky Luciano and Benny Siegel meet with Dr. Narcisse; Maranzano would like to continue Narcisse's deal with Masseria for "protection." When Narcisse declines, Luciano is quick to remind him that a man could lose everything very quickly in these uncertain times.
Nucky meets with Joe Kennedy at an Italian restaurant in Atlantic City. He's surprised to learn that Kennedy doesn't drink. "It's hard enough doing business as an Irish Catholic," Kennedy explains. "I try my best to thwart the notion that we're all drunkards." Nucky exchanges his wine for a glass of seltzer.
After tying up Marie and Fern, Milton gives in to his exhaustion and dozes in a chair. Marie tries to reason with Chalky, but he refuses to leave in broad daylight. Hoping to humanize themselves, Fern asks Chalky about his daughter. "There's forgiveness for everyone," she tells him. "That's what Jesus said." A knock at the door brings a delivery from Montgomery Ward -- Fern's spring formal dress, Marie explains. When Milton makes Fern try the gown on in front of him, a frantic Marie tells Milton the safe is actually upstairs.
Margaret meets with Carolyn Rothstein at her apartment. Though Margaret feigns naiveté, Carolyn knows Margaret lives in one of Rothstein's buildings and accuses her of being one of his many mistresses. Margaret explains that she only had a business relationship with Rothstein, and had no control over Bennett's actions. However, Carolyn has little use for Margaret's excuses; Arnold left her destitute. Carolyn knows Margaret is still married to Nucky -- and she wants what's hers.
1884. Enoch is tasked with driving a pony cart to the beach for a family with a daughter his age. The girl asks Enoch if, as a bellboy, he has to do whatever anyone tells him. When he says yes, she asks if he would kiss the pony if she paid him 10 cents. Hoping to impress her, Enoch does, but is left humiliated when the girl doesn't react.
Chalky tries in vain to break a small safe in Marie's bedroom while Milton insists it isn't the one he remembers. Exasperated, Milton presses his gun to Fern's head and forces Marie to unlock the safe she claimed not to know the combination for. She hands him a stack of Liberty bonds - not the fortune Milton was expecting. As Milton cocks the trigger, Chalky swings the hammer into the back of his head, but Milton doesn't go down and strangles Fern instead. With no other choice, Chalky kills Milton, sinking the hammer's claw into his throat. Fern turns the gun on him and Marie orders him from their home.
In his office at the Old Rumpus, Nucky propositions Kennedy about partnering with him in the Bacardi deal. Kennedy, having noticed the absence of family in Nucky's life, presses Nucky about his motivation: "You tell me what you really want, and I'll tell you if we have a deal." Backed into a corner, Nucky only admits that he "wants to leave something behind." A satisfied Kennedy pours Nucky a drink and goes off to pursue a burlesque dancer.
1884. At the Corner Hotel, Enoch stands outside of Beckert's room with fresh flowers. Sheriff Lindsay and the Commodore are inside, and when the Sheriff opens the door, Enoch spots Beckert's girlfriend splayed out on the divan with her throat slit.
Benny Siegel and Red Levine pay a visit to one of Narcisse's whorehouses in Harlem, on the pretense of checking out the "merchandise." Once inside, Levine kills the pimp; he and Siegel then gun down the prostitutes as a clear message to Narcisse.
Mickey Doyle heads to a hobo camp to gather men to work at the warehouse. A 16-year-old boy begs Mickey to hire him, winning him over when he offers to give Mickey half of his pay.
1884. At the Corner Hotel, Sheriff Lindsay promises that Beckert's been "taken care of," but asks Enoch to keep it between them, as it would be bad for business. "You can't stop every bad thing," Lindsay laments. Once alone, Enoch opens an envelope left for him at the hotel's front desk. Inside is a postcard of a boy and girl in a pony cart on the beach. On the back it reads, "We are here for a few weeks every summer. Mabel Jeffries. P.S. I would have let you kiss me."
In his office at the Old Rumpus, Nucky awakens from an alcohol-induced slumber and spots a woman in silhouette across from him. "Mabel?" Nucky asks. "I'm afraid not," says Margaret, as Nucky drifts back to sleep.