The feature length version of the serial by the same name. A mystical medicine arrow, the key to a lost gold treasure, is lost in one of many Indian attacks. It is recovered by the only two survivors, a Major and his daughter, who become the targets of those who wish to possess it. General George Armstrong Custer and army scout Kid Cardigan attempt to stop the ensuing war over the arrow, but fail in their efforts, which becomes the historic Custer's Last Stand.

Kit Cardigan seeks the killer of his father...among other plot threads leading up to the famous historical incident.

The hero befriends a young school teacher, who adopts a child at his suggestion. The real father of the child, who neglected its mother and allowed her to die, tries to make the teacher believe the hero is its father, which brings about an interesting complication.

The captain of a sailing ship has an affair with the wife of one of his passengers, and gets mixed up in a mutiny at sea and a revolution.

Manhattan model Marion Buckley hesitates to accept a marriage proposal from wealthy upstate department store owner Warren Rogers, a widower with two daughters, because of her previous affair with her employer Leon Kessler, who had promised to marry her.

Lassiter quits the Texas Rangers and spends his life in pursuit of a group of Mormons who kidnapped his married sister. In a town on the Utah border, he meets the Withersteens and falls in love with their daughter, Jane. He also befriends Venters, and helps him track down some bandits who have been rustling the Withersteens' cattle.