Posing as horse traders in an attempt to get some information about a mysterious counterfeiting ring, U. S. Marshals Bill Boyd (Bill "Cowboy Rambler" Boyd) and Art Davis (Art Davis) are arrested for disturbing the peace of Three Forks, Texas. Convinced that Duke Mallory (Charles King) agree to work for him as entertainers at his saloon, when he bails them out of jail. Mallory, who operates the Lazy M Dude Ranch and Gambling Palace, has a counterfeiting plant, located in the cellar of an abandoned ranch house, where Joseph Rand (John Elliott), a kidnapped government engraver, is forced to make counterfeit plates. Marshal Lee Powell, with a wad of genuine money, convinces Mallory that the bills are fake and that he, too, is a counterfeiter and can supply Mallory counterfeit money at cut rates. Club hostess Lola Andre (Virginia Carroll) overhears the conversation and informs the local Sheriff (Slim Whitaker). Trailed by Art and Bill, Duke and a henchman ride out to the plant. Kansas McFarland (Hank Bell), a squatter who has been homesteading the abandoned ranch, is killed by the gang and throw the blame on Art and Bill who discover the body. Lee returns to Mallory's office only to be taken prisoner by the gang who have discovered his true agenda. Bound and gagged in a closet, Lee is rescued by Lola, who reveals she is the daughter of the missing engraver. She goes for the sheriff.