In the second of the four Cinecolor "Red Ryder" films PRODUCED by Equity Pictures and released and DISTRIBUTED by Eagle Lion Films (USA), Red Ryder finds two silver conchas, the trademark of bandit El Conejo, at a raided ranch. He reports the raid to Marshal Bill Faugh but tells him that he suspects that El Conejo, a Robin hood type character, is being framed. El Conejo shows up at the saloon and accuses Ace Hanlon, the owner, of framing him. Red prevents El Conejo from killing Hanlon, and says he will deliver him to the Marshal. On the way, El Conejo's men captures Red and is about to be executed, but the bandit, ever the sport, gives Red a chance to defend himself. Red beats El Conejo to the draw, without shooting him, and then, since he is innocent, convinces him he will be better off in jail. Red, his friends Buckskin Blodgett and Little Beaver, his aunt, the Duchess and the Marshal's fiancé, Carole Loomis are guarding El Conejo in jail, figuring that Hanlon's gang will try to free him since they can't blame raids on him while he is in jail. Carole leaves to go home and finds her uncle, Happy Loomis, unconscious in the street after having been beaten up. She summons her friends who leave Buckskin as the sole guard in the jail. Hanlon's men overpower Buckskin, take El Conejo to a ranch, shoot and wound the rancher who sees only El Conejo, and then they let El Conejo escape. The Marshal is not happy with this turn of events, but Red and Buckskin have a foolproof plan, or as close to foolproof as anything involving an Emmett Lynn character could be.