There’s danger on the trail ahead for the Lone Ranger, Tonto, and the great horse, Silver.
Ambushers lay in wait to steal the furs of an indian fur trapper as he takes his goods to sell. The Lone Ranger and Tonto rush in just as it’s going down, and warn off the indian. The bushwackers get away, and the indian is safe, but when they go to his house, he learns that his valuable black fox furs have been stolen.
Back in town, it looks like something dirty is happening at the Webster fur company. As the owner is talking to the ambushers he hired, Tonto lurks outside. Naturely, he flees as fast as he can to take his discovery to the Lone Ranger.
With the Lone Ranger in charge, the Marshall soon has the ambushers in jail, but the law has nothing on the fur company owner, and he turns his back on his hired men. Lone Ranger sets a trap to catch the real bad man behind the stolen furs, but will he be in time? The bad guy is about to flee town to take his stolen furs elsewhere.
Will the Marshall be able to get some incriminating evidence on him? There’s still the matter of those black fox furs that are missing. Lone Ranger has followed the tracks, but does that help?
It takes some stragedy, and a little bluffing, but justice wins out in the end.