The president of Blue Springs Bank, Jason Hopkins (Tom Chatterton), seeks to entrap his cashier, Harrison Colby (Tom London), whom he suspects is exchanging the bank’s gold certificates with fake ones. Colby is caught and confesses but also incriminates his partner, Dandy Joe Meeker (Roy Barcroft). The worried Colby consults Meeker, who engages a gunslinger (Kenne Duncan) to kill Hopkins and then to pin the murder on Jim Douglas (Francis McDonald). Douglas, soon to be paroled from prison, had formally been arrested and convicted for a similar crime that he hadn’t committed. Hopkins meets Douglas in order to tell him the truth regarding his imprisonment but is killed by the gunman. Douglas is subsequently jailed for the murder. However, the gunman is captured by Red Ryder (Wild Bill Elliott) and his Indian ward, Little Beaver.