In this, his fourth Western for Republic Pictures, John Wayne plays John Middleton, a would-be rodeo rider forsaking his chance of winning the championship in favor of searching for an old family friend who is missing under mysterious circumstances. After carrying out a bit of undercover work with the help of the missing man's pretty niece, Ann Mason (Sheila Mannors), John is ready to join the local ranchers in their fight against unscrupulous banker Frank Carter, aka Butch Martin (Frank McGlynn Jr.). Butch is trying to steal their gold rich land. While John devises a plan to get the ranchers' cattle to market before Frank Carter, forecloses on their mortgages, gang member Joe Burns (Yakima Canutt) discovers John's identity and lays a trap for him. John is abducted by the gang and is held prisoner with Hank Mason (Wally Howe). The gang rides off to attack the cattle drive, but John and Hank escape, and bring the sheriff and his posse in time to capture the outlaws and their leader, Butch Martin. John reveals that Martin is actually Frank Carter, who decided to force the rancher out when he learned from Hank that there was a gold field under the ranchlands. Hank and his wife Maria (Julia Griffith) are reunited, and John stays to court Ann.