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Arthur T. Ryan, a hitchhiker, gets a ride from haughty, society girl Glenda Wynant and her fiancé, wealthy J. F. Van Avery after he helps them to replace the top of their convertible when it begins to rain. As they approach a bridge, Art notices a few stalled cars, and when the storm worsens, the bridge washes away, leaving Art, Glenda, Van and several others stranded in a canyon. Art, Glenda and a black father and son decide to climb out and go to nearby ghost town, Helldorado, a relic of the California gold rush, while Van and the others take shelter in an old mine shaft. In Helldorado, the group seem to be alone, and Art finds a gold pan which bears the words "First Gold in Helldorado washed in this pan by John P. Ryan," who was Art's grandfather. Art and Glenda meet Abner Meadows, an old man who talks to ghosts and who believes that Art and Glenda are John Ryan and his wife, Molly, both of whom are dead. Abner reveals to Art and Glenda, who decide to "play" the phantom married couple, that many years earlier, he and John discovered a valuable gold mine, the location of which Abner is unable to recall. The rest of the stranded group arrive, and Glenda worries about Van's reaction to her playing Art's wife. When Art finds the mine, he offers to give everyone present a share and also discovers a way out of Helldorado. After climbing out of Helldorado, Art, Glenda and Van go to a hotel in nearby Digby. Art announces his discovery to the proprietor, and reporters arrive assuming that Art is partners with the rich and renowned Van. Art begins making grand plans to turn Helldorado into a major industrial center when a call comes in from the assay office informing him that his mine contains only fool's gold. The news of gold has spread like wildfire nonetheless, and a crowd of shovel-bearing men gathers in Helldorado demanding to know the mine's whereabouts. Art is frantic, but Glenda arrives and gives him a document that turns out to be Abner's original deed stating the true location of the mine. Art shows the crowd the area where the mine was discovered, being careful to protect Abner's claim. Glenda informs him that she won't return to Van, and the two embrace.