In the fourth and last Red Ryder (following "Ride, Rider, Ride", "Roll, Thunder, Roll" and "The Fighting Redhead" in that order) of the Equity Pictures for Eagle-Lion distribution, filmed in Cinecolor, Red Ryder takes Steve Stevenson, who has saved Red's life, to his ranch and gives him a job. Red's aunt, the Duchess, knew Steve's father, who supposedly committed suicide after losing his ranch betting on a prizefight. Steve refuses to believe that his father took his own life and the Duchess backs him up. On the way to town, Red, Steve, ranch hand Buckshot Blodgett and Red's young Indian pal, Little Beaver, break up an attempted stagecoach robbery. Mark Palmer, the gambler who caused the death of Steve's father, is a passenger. In town, Steve meets Sue Evans, who is going to work for saloon owner Bart Osborne. Palmer and Osborne are working together and want Ryder's ranch, and they develop a plan to have Red fight Palmer's pugilist, Bull Mason. Steve, a boxer in college, takes Red's place. Steve loses to Mason, but before Red can determine whether it was a fair fight, a rider reports a robbery of the stage office. Red goes after the outlaws, and the gold is recovered. Red maneuvers a fight with Mason, and beats him after Mason drops a piece of lead pipe hidden in his hand. Palmer admits to having murdered Steve's father, and Steve learns that Sue was forced to work for Osborne to pay off a debt owed by her brother.