The free grazing land that the local ranchers have used for years is about to be sold to John R. Ramsey (George Meeker), a greedy, grasping cattle broker. Gene Autry (Gene Autry), as foreman of the Circle R Ranch and head of the Cattleman's Association, tries to make Jo Adams (Virginia Dale), the youthful owner of the ranch, understand that the future of all the ranchers hinges on the sale of her property. But Jo, a frivolous, extravagant heiress to whom sentiment means little, stubbornly refuses to stop the sale. Gene goes to court and has Jo declared incompetent and has himself appointed her guardian. Ramsey has already made a $25,000 down payment to clinch his option to buy within sixty days, and Jo has already spent the money on the debts she owed. Gene's problem is to figure out how to raise the $25,000 to return to Ramsey in order to cancel the sale. He and the other cattleman agree to poll their herds for sale to raise the cash, but Ramsey hires some gunmen to stampede the cattle and also flood the valley, killing kindly old Pop Sloan (Wade Borteler) in the process..