The story begins by commenting on the riches of the Matchless Mine and on how Horace Tabor owns the whole town of Leadville, Colorado. Horace sings "It's a Bang Up Job" to the townspeople, praising his new opera house and sharing his disenchantment with his wife Augusta. During intermission at a performance at the opera house, Augusta chides Horace for not acting in accordance to his station in life. Horace pleads with her not to insult the common people, equating the prostitutes' and bar girls' work to the work her committee did in helping build the opera house. Near the end of intermission, a woman arrives, introduces herself to Horace and asks if he could direct her to her hotel. He obliges her, and returns to the opera with Augusta.