... and it's a shame that he is largely forgotten to film history. He was in Warner Brothers' earliest talking films, and even scored a Best Actor Oscar for his performance in Disraeli in 1929. He was later lured to Fox, and I think that was a mistake since his best film work was at Warner Brothers. He was largely known for his stage work.
Here Arliss plays James Alden, owner and founder of an automobile company. When his doctor tells him he must stop work at age 60 and take a prolonged rest or die, at first he wants to ignore the warnings, but then thinks of his wife and daughter (played by Arliss' actual wife and Evalyn Knapp, respectively).
So off the trio goes to California, and the next we see of Alden he is sitting at a table in a garden wrapped in a blanket surrounded by prescription bottles, looking entirely unhappy about his situation. He is visited by an insurance agent, Scofield (James Cagney) who wants no part of selling him life insurance once he finds out Alden is retired, because he says the retired tend to die quickly. Scofield says if he had Alden's money what he would do is find one of the small business opportunities in the newspaper, and take an interest in running some small place so that he has a sense of purpose.
Alden takes Scofield's advice, but in the meantime he must fool his wife and daughter so that they don't worry or put a stop to his plans, and he must also fool his new business partner (David Manners) because he doesn't want him to think/know that they can just go to James Alden for any money they need. He wants to live by his wits, like he did when he started out, because he thinks the challenge might refresh and thus cure him. Things get complex when Manners' character gets interested in Alden's daughter, independent of the business venture. Noah Beery plays the villain here, trying to thwart the plans of Alden and his partner. It is rather refreshing here to see him play a normal kind of villain for a change.
I can't help but believe that Arliss might have been, in real life, the same kind of person he played on the screen - mischievous, impish, energetic, and always trying to help out the younger crowd. He gave Bette Davis her start at Warner Brothers, and I wonder if this cameo role for James Cagney wasn't his doing too.
At any rate, this film is a light hearted delight and I'd recommend it.
