Near Little Rock, Arizona, Harry Dorn, head of the local Cattlemen's Association, seems unconcerned that range cattle are dying of thirst because of a drought. When rancher Corrigan demands that an emergency meeting be called, Dorn insists that according to rule they must wait a week before convening. Frustrated by Dorn's inaction, Corrigan then goes to see his friend, Dan Brady, who has opened a bank and is offering loans to the suffering ranchers. Dorn, meanwhile, is plotting with his friend Adams to buy up the valley floor and sell it to an Eastern syndicate for an irrigation project. In order to force the ranchers to sell, Dorn launches a campaign of terror involving cattle rustling, dynamiting wells and general mayhem. When Rocky Cameron, renowned as "The Lone Rider," and his sidekick, Fuzzy Q. Jones, encounter Corrigan being chased by a gang, they come to his aid and the gang flees. Corrigan, who sent for Rocky, takes them into town just as Brady is murdered by Jack Hammond and Bill Davis. After Rocky captures the killers, a traveling judge convenes court in the saloon. Although Rocky testifies that Hammond killed Brady in a face-off during which Davis blinded Brady by reflecting sunlight with a mirror, and Brady's daughter Ann testifies that Hammond recently threatened her father's life, the judge finds Hammond and Davis not guilty because Dorn says it was a fair fight. When Brady's patrons make a run on the bank having heard a rumor that it is not solvent, Ann insists they return during business hours the next day, but worries because Brady used all the money for loans to the ranchers. Later, Ann remembers that she has $50,000 from her father's mining claims in another bank, so Rocky uses an old express route to get the money and return to Little Rock in time to pay the customers. Dorn sends his gang to ambush Rocky, and he is wounded in the head by their gunfire and develops amnesia. When Fuzzy and Corrigan come to his aid, they are unable to find the $50,000, and after returning to town, Fuzzy stalls for time so the bank can close at its scheduled hour without panicking the patrons. After a doctor declares Rocky fit, Dorn raises suspicion about Rocky's trustworthiness, and arrests him on suspicion of robbery. Desperate, Fuzzy then consults with a fortune-teller named Pasha, who predicts that he will die a violent death in two days. Pasha sells Fuzzy several medallions which he claims will protect him. Convinced that he is now safe from harm, Fuzzy boldly marches into the jail and releases Rocky. When the deputies fire at him, the bullets lodge in the medallions he has placed throughout his clothing, and Fuzzy is unharmed. Although his memory has not returned, Rocky concludes that whoever is behind the conspiracy will follow him in case he finds the money. Rocky and Fuzzy ride out of town and are followed by Dorn's gang, who are also being followed by Corrigan and some ranchers. A gunfight erupts between Dorn's gang and the ranchers, and all but two men are captured. Dorn is warned of the danger but stays in town, figuring that he can buy the bank's assets when the bank is no longer able to pay its customers. However, Rocky and Fuzzy confront Dorn in his office, and when Rocky receives a blow to the head, his memory is restored. Dorn shoots Fuzzy, and Rocky then beats Dorn into submission. After Dorn is taken into custody, Fuzzy revives unharmed, and Rocky tells Corrigan where he hid the money.