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Texas Rangers Tex Wyatt, Jim Steele and Panhandle Perkins are en route to Boulder City to investigate the murder of their friend, Dan Clark, when they see a man collapse near their campsite. Although they rescue the man, he tries to escape with their horses, but they are well trained and refuse to cooperate with the stranger. The Rangers learn that they have captured Trigger Farley, a gunman hired by rancher Cole Melford, who has been implicated in their investigation. Tex decides to impersonate Farley and takes his clothes and letter of introduction. The Rangers continue traveling to Boulder City with their hostage, but along the way they encounter Tom Bancroft lying unconscious near a remote shack. After Tom revives, he tells them that he was deliberately knocked unconscious while en route to Boulder City, where he is to inherit half of Clark's ranch, but cannot identify his assailants. For the young man's own safety, Jim decides to impersonate Tom, who has been instructed to arrive at the ranch no later than midnight that night, lose the inheritance. The Rangers leave Tom to guard Farley, but are stopped again when they prevent a stagecoach robbery in which the attackers are attempting to kidnap the passengers. Tex and Jim discover that the passengers are Betty Clark, the other heir to Clark's ranch, and her friend, Marge Leonard. Jim introduces himself to Betty, who has never met Tom, as her new partner. When Melford, hears that Panhandle has arrived in Boulder City, he worries that the Ranger will discover he is Clark's killer. Tex is accepted as Farley by Melford, but Melford's thug, Hank Dugan, is suspicious of him. Melford later tries to convince Betty to sell the ranch to him, but she refuses. At midnight, Clark's will is read by his lawyer, Seth Higgins, but when he begins to read a letter which states the value of the ranch, Rance Daggett, who works for Melford, shoots out the lights through a window and the letter is stolen. Panhandle then returns to the shack to take Farley to jail, only to find that Farley has escaped and left Tom tied up. Tom and Panhandle rush to Melford's ranch to forestall the discovery of Tex's imposture, but Farley beats them to it, and informs Melford and Higgins, Melford's co-conspirator, that Tex and Tom are Rangers. Tex is taken hostage, but is freed shortly afterward by Panhandle and Tom, who force Hank to write a full confession. Jim, meanwhile, finds Daggett's gun, in which he has hidden Clark's letter. Daggett and Jim shoot it out, but Melford and Farley join Daggett and capture Jim, Betty and Marge, forcing them into a previously concealed mine shaft. Tex, Panhandle and Tom rescue their friends and capture the Melford gang. After Tom's identity is revealed, the outlaws are arrested, and the true heirs realize their inheritance includes a wealthy mine.