Written by Howard Korder
Directed by Jeremy Podeswa
At Narcisse's Harlem whorehouse, Daughter Maitland begs Chalky to leave while he still can. Though she assures Chalky her daughter is not Narcisse's, she refuses to offer up the name of the father, claiming Althea is "just mine." One of Narcisse's men comes by and Daughter locks the door. He informs her that the Doctor will come to see her shortly. Despite her pleas, Chalky insists on waiting with her until Narcisse arrives.
Mickey Doyle sends Joe Harper up to Nucky's office at the Old Rumpus with sandwiches. Arquimedes goes to inform him, but Nucky is nowhere to be found.
Atlantic City, 1897. Enoch wakes to find the bed empty next to him, and Mabel in the kitchen making strawberry pie. She asks about Enoch's speech, the one he was forced to give honoring his lifelong rival, Jim Neary, as he campaigns to become the next alderman of the Fourth Ward. Despite his lack of progress with the Commodore, Nucky promises Mabel that he'll make his way.
At a dive bar in Atlantic City, a drunk Nucky flirts with a rough-and-tumble woman, Dinah Linehan, and drinks away his sorrows over Sally.
Van Alden and Eli apprehensively head to Capone's suite at the Lexington Hotel to steal the ledger books under the guise of making a drop. They talk their way in past the bodyguard, but when Eli tries the door of the count room, they discover Ralph Capone having sex with a hotel maid. When Ralph dumps out the "drop off," he finds slips of newspaper cut to size instead of cash. He sends for Mike 'DAngelo.
Chalky and Daughter continue to wait for the Doctor, and Daughter begs Chalky to let her take Althea out, but he refuses, knowing Daughter is a valuable bargaining chip. When Althea wakes up, Chalky learns from her that Daughter hasn't been singing – she's been keeping house for a white man in Memphis.
1897. While Deputy Enoch collects "protection" money from a local shopkeeper, he spots Leander Whitlock introducing a young girl to the Commodore at Corner Hotel. The shopkeeper tells Enoch that a red-headed boy has been stealing from his shop, and pointedly suggests that the protection he pays for is useless.
An even drunker Nucky continues to flirt with Dinah, now joined by her friend Irene, and mentions he can get the women into the Ritz Carlton. Tired of listening to Nucky, a bar fly orders him to shut up. A brawl ensues and Nucky knocks the man unconscious.
At the Lexington Hotel, Mike 'DAngelo interrogates Eli and Van Alden, and Ralph Capone asks Mike to take care of the pair "neat and quick." But on their way out, Al Capone returns with the two actors he's been entertaining. After a briefing from Ralph, Al calls Van Alden and Eli into his office -- he doesn't buy their story. When Capone puts his gun to Van Alden's head, Van Alden wrestles him to his desk and reveals his true identity. Van Alden's tirade ends when he's shot in the head by Mike 'DAngelo, who fears his cover is about to be blown. Capone orders Mike to put Eli "face down in a cornfield" and Ralph hands Mike the ledger books for safe keeping.
After "saving" Dinah and Irene, Nucky meets the women in an alley behind the bar to get his "reward." As Nucky cozies up to Irene, Dinah knocks him out cold with a sap. When Nucky comes to, he sees Joe Harper looming above him and offers the boy money to bring him home. Joe refuses payment, reminding Nucky that he works for him already.
1897. Enoch patrols the boardwalk accompanied by Eli, who begs his brother to put in a good word for him with the Commodore. Enoch spots the red-headed thief that the shopkeeper complained about, and chases the boy under the pier but fails to catch him. Instead, he finds a crate partially buried in the sand, containing the boy's stolen possessions. The following day, Enoch and Eli wait under the boardwalk for the boy to return, and are shocked to learn that their thief is a girl named Gillian.
After Narcisse arrives, Chalky orders Daughter to explain her presence. She puts on a 78 of her singing -- which she paid for herself -- and claims that no one in the business will play it, nor hire her, and she believes Narcisse is behind the freeze-out. She begs him to let her go so that she can provide for Althea, but Narcisse appears unmoved. Instead, he tells Chalky of his meeting with Luciano and suggests Chalky work for him within the new regime. Chalky agrees to the deal, on the condition that Narcisse set Daughter up with a gig and let her go.
Nucky continues to offer money to Joe for getting him back to the Old Rumpus, but the young man remains steadfast in his refusal -- he's only looking to get himself ahead, and did what any decent person would do. He then takes Nucky out into the main room, where Mickey Doyle -- unable to locate Nucky -- did a "Paul Revere" and rounded up the troops.
As Narcisse heads off with his driver, Chalky is walled off by a line of bodyguards, readying their guns. Chalky calls out, "All a dream to begin with -- ain't nobody ever been free." He closes his eyes as the men raise their guns and fire.