Their friend has been murdered, so cowboys "Lightning" Bill Carson (Tim McCoy) and Magpie McGillicuddy (Ben Corbett) are out for justice. To close in on the suspect, no-good Jim Burrows (Forrest Taylor), Bill dons a mask and poses as "the Phantom." Meanwhile, a local lass named Molly Arden (Joan Barclay) fears that Burrows is also behind her brother's violent death. And while "the Phantom" wants to help Molly, his dual identities lead to unforeseen snags.
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