Submarine Film Corporation

A poor but brilliant inventor sets out to make his fortune by discovering buried treasure, with the aid of a special inverted periscope through which he can view the ocean floor.

Stephen Verrill dies, leaving the deed to a valuable gold mine to his wife and child. Verrill's widow, planning to establish a company to operate the mine, sails aboard the steamer Caribee bound for New York. With the aid of Allen, the mate, Cuttle, a notorious trader, scuttles the ship on a wild coastline. As the lifeboat drifts towards a small island, it is overturned by a giant octopus, and the baby is washed ashore, the mine deed tied to her neck.

Olive Granger, an heiress survives a shipwreck in the South Seas and is washed ashore an island along with international crooks Irene Carlton and Fred Morgan, who steal her credentials and escape to America, where Irene poses as Olive. Paul Patterson and Jan Boomer, divers, find Olive abandoned in a cave and fight through the jungle in competition for the girl. While diving for pearls, the treacherous Boomer dies in the clutching coils of a giant octopus. Olive and Paul arrive in New York, expose the impostors, and get married.

One of the earliest examples of underwater cinematography, this film explores the sea around The Bahamas in an expedition led by the Williamson Brothers, who shot undewater footage for the Thanshouser company. Among the scenes shown are a shark attack and a sawfish being caught.