Barton's mine foreman is receiving gold bullion from gangsters in the East, putting it through the mine's smelter, and then shipping it out. When Barton finds out, Murdocks men make him a prisoner. Arriving at the same time, Alamo hears the story of the Masked Phantom and then becomes that Phantom fighting Murdock and his men and attempting to find Barton.

The second of a series of four features Monogram made based on the comic strip by Hal Forrest (Universal also used the strip characters in two serials), finds a movie company shooting a war picture at Three Points airport, with Tailspin Tommy Tompkins as a stunt pilot in the film. Tommy is incensed by the complete disregard for human life shown by the film's director, Sheehan, and quits. Sheehan gets a replacement pilot named Earl Martin, who is known as a reckless pilot who will try an aerial stunt for a thrill. He hand Tommy get into a fight when Martin takes Betty Lou Barnes for a ride in a plane that is practically falling apart.

Two young brothers are separated when their wagon train is attacked and their parents killed. One brother Cherokee is raised by Indians and the other, the Kansas Kid, by the outlaw gang leader Buff. Twenty years later they unknowingly meet again when the Kid goes after wagons being guided by Cherokee.

Manuel and Carga are after the hidden map of a gold mine which is somewhere in the hacienda willed to Manuel's brother, Don Careta. Following the third midnight raid on his home, Don Careta is fearful for the safety of his daughter Wanda, and sends for Jack Martin to help him.

An evil ranch foreman tries to provoke a range war by playing two cattlemen against each other while helping a gang to rustle the cattle. Each cattleman blames the other for missing cattle. With the help of Bill Cassidy (Hop-along, because of an earlier bullet wound) and Johnny Nelson, the warring cattlemen join forces to do in the outlaws.