Duke Fergus falls for Ann 'Flaxen' Tarry in the Barbary Coast in turn-of-the-century San Francisco. He loses money to crooked gambler Boss Tito Morell, goes home, learns to gamble, and returns. After he makes a fortune, he opens his own place with Flaxen as the entertainer; but the 1906 quake destroys his place.

Calvin Drake employs a group of low-lifes to drive away land owners along the path of a new railroad; Red Ryder opposes this strategy.