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On the outskirts of Vienna a beer festival is celebrated. Residents of the city are singing and dancing to the accompaniment of an amateur orchestra, which is conducted by the overall favorite, the young composer Franz. To the feast comes his bride Anneli. The young man gives her a bouquet of white flowers. They are happy.

Suddenly, the sky is covered with clouds. Storm is about to start, but the sky soon becomes clear.

In the square there is a car belonging to a well-known Viennese ballerina Carla. Residents invited the actress to participate in a national celebration. She eagerly agrees.

Franz friends persuaded him to play the violin for the distinguished guests. The young composer is struck by the beauty of a ballerina. Anneli notices it and wants to leave the party. Franz tries to detain her. But angry Anneli advises him to stay with Carla. Lovers quarrel. Anneli remains alone.

Theater Square is filled by the crowd rushing to the show. This evening charming Carla will act. Among the spectators - Kaiserling the Count, a longtime fan of the ballerina in love with the actress and Anneli with Franz.

Speech by Carla is a sensation. After the performance all express admiration of ballerina. Franz is among the fans of the actress. Carla introduces him to the Count. Kaiserling invites the young composer to the ball, which he arranges in honor of Carla. Actress seamlessly delivers Franz a sign that she will wait for him at home. But Anneli notices it. Ballerina and the Count leave the theater.

Carla’s bedroom. Count tries to express his admiration for the actress, but as a response he gets indifference and irritation. Depressed by unsuccessful appointment, Kaiserling leaves her. Carla is looking forward to meeting Franz. He comes and declares his love.

Ball in honor of Carla. Ballerina surrounded by great men, mannered and behaved fans. Buoyed by his love for Carla Franz does not hide feelings. But the actress is only annoyed. Now she is cold and not like during their recent meeting. Franz realizes that was wrong, and Carla was not what she seemed –he shouldn’t have considered her his muse. He wants to go with the ball. Actress persuades him to stay, but Franz leaves.

Wandering the streets of Vienna, Franz seeks solace. Even the friends he meets cannot entertain him. He betrayed his love and he has no forgiveness.

Thunderstorm. Haste, escape from the rain, people run Franz by. Among them, he notices Anneli friend. Franz stops her and buys her a bouquet of white flowers. This bouquet reminds him of the days when he was with his mistress. Franz realizes that he only loved Anneli.

Frantz is on the Danube. He recalls the happy days of the past. Here comes Anneli. They are together again. Their love conquers all dissent.

Franz creates a waltz on the blue Danube and conducts it. Hundreds of residents listen to music that Danube waves sing about love and happiness. Young composer becomes an acknowledged king of the waltz.