Synopsis: Ken Maynard was the roughest, toughest, straight-shootin'est picture-makin'est hombre who ever laid siege to Old Hollywood. Ken Mitchell (Maynard) inherits both the ranch and bad reputation of an uncle who had been suspected of provoking a disastrous outbreak of stampedes. The distrustful ranchers will have none of Ken's help, so he insinuates his way into a murderous outlaw gang. He learns that a big-shot cattleman named Collins is secretly the real culprit and suits himself up as the Phantom Rancher, thwarting Collins' takeover plans by helping the locals meet their mortgages. The masquerade is more Robin Hood than Phantom of the Horse Opera, but Maynard's very anger and indignation render this Phantom a figure of menace.