Overview: New York, April 1931. Gangster Larry Fay, a former student of Al Capone, has his greasy fists firmly in the milk racket: he's organized milk companies into a monopoly. The price of milk was 10 cents a quart* (this was during the Depression when many people made 30 cents an hour); he increases the price 3 cents a quart-- with 2 cents going directly into Larry Fay's pockets.