While riding the rodeo circuit, singing cowboy Gene Autry (Gene Autry) and his sidekick Frog Millhouse (Smiley Burnette) meet Southerners Caroline Stanhope (June Storey) and her grandfather (Eddy Waller). The Stanhopes are hoping to win prize money in order to pay back taxes on their plantation. Their hopes are shattered when Caroline's horse Valdena is injured in an accident and unable to compete in the rodeo. With no hope of winning the prize money, Stanhope gets involved in a card game and loses $1,000 to some gamblers. With no money, he offers to give them Valdena, his only asset, but the gamblers refuse.
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