This is easily among the better of the many features starring the East Side Kids. It has an interesting story that includes some thoughtful moments in addition to the broad humor. It also has plenty of the group's spontaneous horsing around, and it includes a funny (and all too brief) scene between Leo Gorcey as Muggs and his father Bernard as a messenger.
The story has Muggs, Glimpy, and the rest of the crew saving a rich man from a mugging, befriending him, and then trying to protect him and his family from a variety of criminals and impostors. It works surprisingly well, even most of the more serious moments. Gorcey's style is effective in this kind of story, because he keeps his character's hardened edge even when he is doing something good, thereby usually making him more believable.
The main emphasis is still, of course, the raucous comedy, and the gang gets some good moments at the expense of all of the other characters at one time or another. It's a good movie, and it's probably one of the entries in the series most worth seeing.