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When bandits harass the Cedar Rock bank, president Clay Bradford sends for Texas Rangers Jimmy Wakely and Lasses White. As they ride toward Cedar Rock, Jimmy and Lasses hear gunshots and, when they investigate, discover a lone gunfighter facing a gang. Jimmy and Lasses help the gunman to drive the others away, but before they can question him, he rides off, leaving behind a perfumed handkerchief. In town, Bradford tells Jimmy and Lasses that the person behind the robberies is Jane Morgan, who runs the saloon with her sister Helen. Although several of Bradford's men have identified Jane as the thief, she always has alibis for the times when the robberies took place. Bradford adds that many of the local ranchers borrow money from her at lower rates than those offered by his bank. When Jimmy wonders how she can afford to do that, Bradford says that although her father used to own most of the town, he died penniless and suggests that she is loaning stolen money. While they are speaking, some of Bradford's men arrive. When they accuse Jimmy of letting Jane escape, he learns for the first time that Jane is the gunfighter whom he helped that morning. After warning the men not to take the law into their own hands, Jimmy and Lasses question Jane at the saloon, without revealing that they are rangers. Despite the misgivings of Keno Wilson, Jane's henchman, she hires Lasses as a bartender and Jimmy as a singer. While Lasses is tending bar, he overhears Shotgun, a customer, tell waitress Ruby Taylor that he will be carrying a $10,000 shipment from the bank. While Ruby privately conveys the information to Jane, Lasses tells Jimmy. Making an excuse, Jimmy and Lasses leave the saloon, but are too late to prevent Keno from robbing Shotgun. Back at the saloon, Jimmy reveals to Jane his belief that she is behind the robberies. The next day, Shotgun confidentially tells Lasses that Bradford is a thief whose high interest rates have driven many ranchers into bankruptcy. When Jimmy examines the bank's books, he learns that Shotgun's accusations are correct. Later, in a ploy to frame Jane, Bradford sends his men to foreclose on the ranch belonging to Ezra and Mary Jones, who owe money to Jane. When Ezra protests that Jane would never foreclose, he is killed by one of Bradford's men, who is dressed like Jane. A vengeful Mary drives to town, intending to kill Jane, but Jimmy gently takes her gun away. Helen is sure that Jane is innocent of the murder and tells Jimmy that her father killed himself after Bradford stole all his money. Meanwhile, Jane forces Bradford at gunpoint to give her all the money in the vault, claiming that it is rightfully hers. When Jimmy sees Keno leave the saloon, he and Lasses follow him to Jane's hideout. Despite Jane's protests that she was robbing Bradford at the time of the murder, Jimmy arrests her and Keno. Bradford denies that Jane stole his money, so Lasses and Jimmy, who believe Jane's story, start a run on the bank, hoping to prove that he is lying. When Bradford manages to pay all of his depositors, Jimmy realizes that he stole the money from the sheriff's safe, where Jimmy placed it for safekeeping after he confiscated it from Jane. Jimmy hurries to the sheriff's office, and there discovers that Bradford has killed the deputy and kidnapped Keno and Jane. Jimmy and Lasses pressure Emmet, the bank clerk, who finally admits that he impersonated Jane and killed Ezra. He also reveals that Bradford killed Morgan and made the killing look like a suicide. Jimmy and Lasses then hurry to the bank. During the ensuing fight, Bradford kills Emmet. Jimmy then turns the criminals over to the sheriff. The governor pardons Jane, who will run the bank after she marries Keno.