Wanted outlaws have mysteriously disappeared. Ranger Captain Henley and Steve have a plan to find them. Steve becomes a wanted man by faking the killing of Henley. Not only is he now in trouble as both the Rangers and the Mexican Rurales are after him, but Smiley knows him and may expose his masquerade to the bad guys.

Returning G.I. Curt Norton (Ken Curtis), owner of a radio station, finds his father Amos (Guy Kibbee) has allowed the station to run down and has squandered Curt's money in bad investments in war-surplus material. Eddie Jackson (Robert Kellard), who owns the rival station, is also attracted to Curt's sweetheart Jean White (Joan Barton). When Curt and the Hoosier Hotshots successfully stage an auction to raise money, Eddie hires Mimi Carston (Claudia Drake) to claim that Curt married her in France.