Written by Eric Overmyer and Howard Korder
Directed by Allen Coulter
In order to avoid dealing with Eddie's death, Nucky heads to Florida to finalize the land deal he made with August Tucker and Meyer Lansky. On the way, he stops in New York City and has a strained reunion with Margaret at Penn Station. Nucky reveals Eddie has died and presents her with a birthday gift for Teddy. Margaret, wary about sharing details about her new life, will only say that she works in an office downtown. While sorry to hear Eddie is gone, she tells Nucky he can't continue to involve her in his life. "I'm trying to get on with it," she explains.
In Washington, D.C., J. Edgar Hoover reprimands Agent Knox for the risky behavior that contributed to Eddie Kessler's demise. Though Knox believes Eddie jumped, Hoover isn't so sure: "If he talked to Thompson beforehand, blew your cover? It could be you going out a window—or worse." Hoover, skeptical about a nationwide criminal conspiracy, wants Knox to put an end to the investigation—he believes there are bigger fish to fry, like Marcus Garvey. Knox begs for one more chance.
Lester White enjoys a piano lesson with De-Ernie Coates during the off-hours at the Onyx Club, as Daughter Maitland approaches Chalky. She reveals she's bored with her current material—she's working on something new. Chalky balks, telling Daughter he keeps his boredom to himself. "That doesn't stop you from feeling it," Daughter purrs.
After finding the key to the safety deposit box in Eddie's room, Eli heads to the bank posing as Kessler. The bank manager recognizes Eli and refuses access without a death certificate and a will. "I was sheriff for nine goddamn years," Eli reminds him, but the manager remains firm. "I could go to jail. We both could. You don't want that again, do you?" he challenges.
Paul Sagorsky sees a doctor and learns he is dying of cirrhosis. On his way out of the VA hospital, he spots Richard Harrow and chases him down. Later over drinks, Harrow admits to Paul he couldn't face anyone after what happened at the Artemis Club. Sagorsky assures Harrow he's a hero for rescuing Tommy, no matter what it took. He confesses to having a demon of his own, and tells Harrow he shot a young girl in the face when he was stationed in the Philippines because she couldn't show ID.
In Florida, Nucky meets Bill McCoy at Sally's speakeasy. McCoy tells Nucky that August Tucker has disappeared and is nowhere to be found. Then, two of Tucker's friends, Callum and Earl, approach and pull a gun on McCoy, blaming him for Tucker's disappearance. Sally draws her shotgun and forces the men to leave. When Nucky rages they're out a partner, McCoy promises he's already got someone lined up—a man named Pierce, who has connections in Havana.
Worried about Eddie's cause of death, Knox heads to Mickey Doyle's warehouse to see if his investigation was compromised. Eli mistakes the visit as a shakedown for a payoff, but sees an opportunity to make an exchange. He convinces Knox to use his authority at the bank to gain access to Eddie's safety deposit box.
Julia, upon hearing an animated Tommy speaking to someone at their front door, is surprised to find Harrow on the other side. That night, they take a walk on the beach with Tommy, who is now interested in astronomy. "He's gotten very concerned about navigating his way back from places. Not so easy, is it?" rebukes Julia. She admits to Harrow that he turned her life upside down when he gave her Tommy, but she doesn't want to do it alone, even if she's not sure she can trust him. When she and Tommy turn to head home, Julia tells Harrow he's coming too.
Meyer Lansky and Lucky Luciano arrive in Tampa and take in an alligator fight with Sally and Nucky. McCoy introduces them to "Mr. Pierce," aka Vincenzo Petrucelli, the investor taking Tucker's place. Petrucelli wants in on the land deal, but Nucky is hesitant, telling Petrucelli he will think on it. As they enjoy the gator fights, Petrucelli, recognizing Luciano, takes him aside and tells him he's happy Joe Masseria lets him conduct business on his own—Masseria and Petrucelli are cousins. Through a smile, Petrucelli suggests that he should call Masseria and ask him to come down the next time, "so we can all make money together."
Knox returns to the Albatross Hotel and presents Eli with money from Eddie's safety deposit box. Eli, surprised to see the entire sum, rules out a guilty conscience as the motivation for Eddie's suicide. Hoping to find a clue, Eli has Knox translate the letter, only to find out it's Eddie expressing his joy at learning he'd become a grandfather. Emotional at the thought of leaving behind his own children, Eli accepts a handkerchief from Knox—and notices the monogram is "JMT."
Back at the hotel with Lansky, Luciano panics that Masseria will find out he is making deals independently and decides he has no choice but to kill Petrucelli. However, Lansky firmly tells him he cannot kill Petrucelli and suggests cutting Masseria in. Unsatisfied with the alternatives, Luciano backs out of the deal but cannot convince Lansky to give up his stake too. They have a heated argument as Lansky tells him their partnership is over. Luciano leaves, headed back to New York.
Daughter Maitland takes the stage at the Onyx Club that night and changes things up: She sings a blues song, "St Louis Blues." Chalky, captivated by the performance and enamored with Daughter, has to leave the room. Later in the Club Room, Chalky scolds her for singing that song, and Daughter tells him she wasn't in the mood to sing the same old material. Chalky replies, "Ten of ‘em up and left because you wasn't in the mood." Daughter looks Chalky in the eye and calls him out: She saw him watching her. He grabs hold of her and they have sex in the upstairs office.
While a storm rages outside, an already very drunk Nucky and Sally continue to imbibe. Nucky questions his morals and motivations, lamenting his reaction to Eddie's death and his inability to stay behind the scenes. When his whining gets to be too much, Sally punches him—twice. When she winds up for a third blow, Nucky clocks her in the jaw instead. The ensuing scuffle quickly leads to sex. In the morning, bruised but newly awakened, Nucky embraces life and the deal, accepting Petrucelli and Lansky as partners. He tells McCoy that Sally will watch over his end of the business in Florida. When Lansky offers his condolences to Nucky over Eddie's death, Nucky replies "That all happened somewhere else."