While Rusty Williams is away at college, he leaves his cousin, Shorty Williams, in charge of his large ranch. Shorty, more concerned with his prospecting ambitions, wanders into town looking for backers. At the Wagon Wheel Cafe, he encounters a couple of vagrants, Curly and Larry, who are just a step or two ahead of Sheriff Zeke, who have won some money at the roulette wheel and they immediately become prime prospects for backing Shorty's nebulous prospecting scheme. Meanwhile, June McGuire and Betty Vale, whose singing act has failed at the café, are packing for New York. Shorty, who has fallen for Betty, persuades the girls to go to the ranch. Meanwhile, back at the ranch, Rusty has returned with intentions of selling the ranch. He tells Shorty, Curly and Larry to hit the trail, and instructs his cowhands, the Hoosier Hotshots, to round up the cattle for the buyer's inspection the next morning. Shorty, Curly and Larry inadvertently (of course) make a hole in the fence and the cattle get out. The only-slightly smarter Hotshots suspect rustlers and when they come upon Sam Clemens, the prospective buyer, they hand him over to the sheriff as a rustler. They hear that Tom Trove, a Broadway producer, is in town and get him to the ranch where they plan to audition their talents. Rusty gets the more-than-miffed Clemens out of jail and they return to the ranch to find a show in progress with Trove as a disgruntled audience. Things aren't going good for anybody at the old ranch house, until Curly spills some rocks from his pocket that turn out to be that most valuable and rare mineral "Vanadanite," and the ranch is loaded with it. Clemens makes Rusty his partner in a mining venture, and the Hoosier Hotshots, with the unintentional aid (of course) of Shorty, Curly and Larry, make a hit with Trove, who signs them for his Diamond Circle in New York, and includes June and Betty.