Jim Craig has sold his cattle and now can pay off the mortgage on his ranch held by Bert Dillon. But Dillon wants to forecloses on the ranch and has his henchman bushwhack Jim and steal his $7,000 in gold. The Ranger and Tonto find Jim badly wounded and take him to the ranch where his wife Sue and ranch hand Hank can care for him. Dillon visits and makes a couple of slips that exposes him to The Ranger as the one behind the robbery. Hank tells them of a strange white powder that blows down from the mountain and ruins the water supply. Our heroes investigate and find that the powder is borax, a valuable chemical used in factories. That borax deposit makes the ranch worth a fortune. Dillon somehow knew about it. Now The Ranger has to figure a way to get convincing proof against the evil Dillon and his henchman. But how to do it?
Harry Lauter plays Jim and makes the fourth of his eleven appearances on the Lone Ranger series. Emmett Lynn plays Hank. He made nine appearances on the series. Pretty Wanda McKay makes the first of her three series appearances and plays Sue Craig. Her Hollywood career ran from 1939-1957. During the 1940s she was the model for the "Chesterfield Cigarette Girl" and her likeness appeared on billboards all over the country.