The Lone Ranger and his Indian companion, Tonto, rode slowly along the trail which led south west from Frontier Town following the course of the Powder Horn river. They rode in silence until they were passing Wash Perkins old gristmill, and Tonto spoke to say that it was Wash Perkins who had brought the news of the rustlers to Sheriff Taylor's attention. According to Wash's story, the ranches to the south were continually losing cattle, and Sheriff Taylor and his posse are stumped! They can't find the lost cattle, nor can they find any clues to the hideout of the rustlers...