The story centres on three family members, all of whom are competing to obtain some misplaced glasses. They repeatedly double-cross each other, with Dad threatening to hire a private detective to murder the lot of them.
Hunting perpetually but never finding them, this is classic film noir or at least classic Dad being forgetful. When asked where he last left them, Dad enigmatically replied that their location was 'the stuff that dreams are made of'.
Ironically, just like the first film, it is implied that the glasses may never have existed in the first place. And who can forget the original climax of the movie, when Humphrey Bogart discovers the falcon had been hanging on a cord around his neck, all along.