Written by Dave Flebotte
Directed by Jeremy Podeswa
In Tabor Heights, Tonino tells Gyp that two dozen crates of liquor were lost at sea. His cousin Franco suggests they were lost due to "rogue waves," briefly drawing Gyp's ire. Meanwhile, the lost bottles wash ashore in Atlantic City, exciting beachgoers as King Neptune unlocks the sea to symbolize the start of tourist season.
Gaston Means calls Nucky to warn him that Jess Smith is a ticking bomb, liable to implicate them both. Means tells Nucky it will take $40,000 to solve the problem.
Owen heads to the Ritz for a meeting with Nucky and catches Margaret alone. He worries if they leave at the same time Nucky will figure them out. He wants her to leave first and he'll follow a month later.
In Cicero, Van Alden sells Aquavit to a Norwegian restaurant owner, promising to bring more. When he returns, Van Alden is hauled out at gunpoint by two goons who deliver him to Capone at the Four Deuces. Despite Van Alden's claims of innocence, Capone believes he's selling whiskey in his territory at the behest of Dean O'Banion. He orders Van Alden to tell him everything he knows about O'Banion's operation.
Agent Sawicki tells Owen that Joe Masseria goes to the Turkish Baths on Chrystie Street at the same time every Thursday, and Owen should be able to kill him there. Eli offers to go as backup, but Nucky sends him to Chicago to get manpower from Johnny Torrio instead. Nucky worries about Owen going after Masseria with only Sawicki for backup, but Owen assures him he will be fine. "This job doesn't call for an army. Just patience and opportunity."
Lansky and Luciano meet with Rothstein to discuss a partnership in their heroin venture. However, Rothstein declines, citing the war brewing between Masseria and Nucky. He warns, "A deal will always wait. And a fool will always rush in." Later, they approach Masseria with the offer and he agrees to the deal after they reveal Nucky's plans to kill him.
Means tells Jess Smith the money he received from George Remus was marked and he should burn it to keep from being implicated. After, Means shows Daugherty that Jess is burning the money in the backyard and suggests he's mentally unstable. "When judgment day comes, he'll be in a hospital eating Jell-O. But you? You'll be doing hard time." For $40,000, Means assures him he'll take care of Jess - "he won't feel a thing."
Seeking information, Nucky asks Bill McCoy to meet with Gyp to discuss a shipment. Gyp tells McCoy about his bungled delivery, blaming the loss of cargo on a drunken captain. When Franco tells him he's wrong, everyone is surprised to see Gyp laugh him off again.
Sister Agnes meets with Margaret and Dr. Mason to tell them they're closing the women's clinic to utilize the room for more important hospital matters. Dr. Mason secretly gives Margaret the diaphragms she requested and asks her to consider continuing their work together outside of the hospital.
When Paul Sagorsky sees Julia and Harrow holding hands in his kitchen, he tells her he won't have her "spreading her legs for some sideshow freak." Harrow brings him to the floor by his throat and demands he apologize to Julia. Later, Harrow and Julia sit around a beach campfire, and Julia reveals she was with an older widower before the war but he married someone else when she was forced to care for her father after her brother died. Harrow accepts her past and they make love.
Chalky pays Nucky a visit to discuss building a club where Babette's used to be. He envisions a high-end venue with black performers for a white audience. With Masseria and Gyp on his mind, Nucky is unwilling to entertain the idea, citing a color "dividing line" in the city.
Means goes to Jess Smith intending to kill him in his sleep, but Smith surprises him with a gun of his own. He asks Means how much Harry is paying to have him killed before shooting himself in the head.
On the beach in Tabor Heights, Gyp has buried Franco up to his neck in the sand at the water's edge. Tonino begs Gyp for mercy: "Break his legs...anything, but not like this." When Gyp asks for a shovel, Tonino believes his cousin's been spared, but Gyp bludgeons Franco instead. Gyp tells Tonino he owes him -- for not leaving his cousin to drown.
A crate arrives at the Ritz in the middle of the night and Eddie opens it in the foyer, drawing Margaret from her bedroom. Seeing the contents, Nucky orders Margaret back to her room. When she sees Owen's corpse inside, she wails and beats Nucky who realizes she was having an affair with Owen. Locked in the bedroom, Margaret flashes back to her last conversation with Owen, where she revealed she was pregnant with his child.
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