The ranchers have given money through Benton to the crooked lawyer Harkness to save the titles to their land. When Harkness gets a better offer, he steals Benton's receipt for the money and Benton is jailed. To fight back, Benton escapes jail at night to become the Phantom.
John Mason returns to the Sally Ann mine to claim his half share. Janet Cater also returns although her father lost his half share to Joe Ryan. Ryan and his gang are also there to get the gold. A mysterious Phantom is also present. Mason's plan to expose Ryan as an outlaw and to force him to turn his share to Janet works. But when distracted by the Phantom, John is made a prisoner by the gang.
Steele gets into a fight with a ranch foreman, knocking the foreman out. The foreman was supposed to represent the ranch in a prize fight with a middleweight champion. Now Steele finds himself in the fight of his life.
Craig Larrigan's father and his partner own a large cattle ranch that is losing stock to rustlers. Craig, an easterner, heads west but in the disguise of a Mexican bandit. He is eventually thrown in jail with his identity still unknown. His cellmate is one of the rustlers and when they break out, the rustler takes him to the gang and Craig now has a chance to capture them all.
Kincade and Blake cause a mail plane carrying a payroll to make a forced landing in the desert. When they try to get the money, prospectors Ted and Si drive them away. With the pilot shot, Ted takes over as pilot figuring another attempt will be made and this time the Sheriff will be there.
Cowboy is hired by an archaeologist to help find "Hidden Valley", where an Indian gold treasure is supposed to be buried. Just when he finds it, the archaeologist is killed, and the cowboy his charged with his murder.
Ken Maynard's exceptionally intelligent horse, Tarzan the Wonder Horse, is the star of this western about evil cowboy Steve Frazer (Welch) who gathers horses for slaughter, whose meat is sold to pet food manufacturers. The wild horse Tarzan frees the doomed horses from their corrals, and Frazer convinces the Sheriff that Tarzan is a threat and can be shot on sight. Local cowboy Ken Benson (Maynard) and rancher Pat Riley (Kennedy) work together to clear Tarzan's good name and put Frazier behind bars for his evil deeds.
John Drury saves Duke, a wild horse accused of murder, and trains him. When he discovers that the real murderer, a bad guy known as The Hawk, is the town's leading citizen, Drury arrested on a fraudulent charge.
Officer John Brown is after the outlaw known as the Night Rider. Posing as Jim Blake he takes a job on the Rogers ranch. He finds the secret passage from the Rogers mine to the Rogers house used by the Night Rider and also a note written by the Night Rider to his henchmen. Practicing his hand writing, he has a plan to trap him.
An American army officer, Kenneth Holbert, is after a Mexican bandit, El Zorro, who he doesn't know is his long-lost twin brother. Dorothy Holbert has a hard time figuring out which is which, especially since Romanian native Renaldo uses the same accent for both brothers.
Tom Halliday of the Royal Canadian Mounted Police is implicated and framed on a murder charge. The real killer has gone back into the United States, so Halliday, with no credentials, has to cross the border in order to find and capture the killer.
In order to find out who is smuggling guns to the Indians, an army officer pretends to have been demoted and hold a grudge against the army, hoping that the smugglers will try to contact him and take him into their gang.
The Rangers in New Mexico are being disbanded but Bob Houston gets them to make one more ride. They go after the outlaw gang led by Hashknife. They catch Hashknife, but he escapes taking Barbara with him and Bob and Slim have to go after him again.
Heading west, Ken and Bouncer end up at the Brooks ranch where Ken is to ride Tarzan in the big race. But both the Sheriff and Edmonds are after him and he must hide both himself and the horse until race time.
When Texas Grant rides into town people think the supposedly dead Jim Rawlins has returned. After a confrontation with Utah Becker, Grant learns Jim's wife, Helen, is about to lose her ranch to Becker, so he decides to stay and pose as Rawlins in an effort to help her.