Lamont Cranston assumes his secret identity as "The Shadow", to break up an attempted robbery at an attorney's office. When the police search the scene, Cranston must assume the identity of the attorney. Before he can leave, a phone call summons the attorney to the home of Delthern, a wealthy client, who wants a new will drawn up. As Cranston meets with him, Delthern is suddenly shot, and Cranston is quickly caught up in a new mystery.
A wounded archaeologist crawls into the camp of three kindhearted cowboys. When the cowboys bring him to a nearby trading post, he's murdered after he lets slip a secret about a hidden cave. Investigating his death, Ken and his friends encounter a land dispute between a pair of neighboring ranches, an arrogant German baron and a mysterious shack that houses a great secret.
Idaho, returning to the area he left as a boy, gets in the middle of a range feud. He takes the side of Endicott. On the other side is Hollister who is unaware that Idaho is his long lost son.
When a gang tries to rob Haldain, Jim and Walla Walla break it up. Haldain is carrying stuffed animals and Jim's suspicion that they are stuffed with gold is soon confirmed. The gang's boss is banker Cutting and he is after Haldain's gold. He also receives Jim's mail at his bank and changes one of Jim's letters to make it look like Jim is after the gold. His sends Haldain's daughter after her father thereby leading the gang to the secret gold field.
A cowboy hears rumors that an old friend who once headed a criminal gang and had since gone straight is now back on the wrong side of the law. He goes to investigate.
Cowboy puts on a black mask and a black outfit to fight a gang of land-grabbing crooks.
Cowhand Ken Clark is stranded in Chicago, and temporarily takes a job as a sharp-shooter entertainer in a night club, with the intention of getting enough money together to get back to his beloved Arizona. Frank Gordon, while drunk, is about to be rolled by the club bouncer, but Ken interferes and earns Clark's gratitude. Gordon gets a telegram from Kay Burke, the daughter of his partner in Arizona, notifying him that her father, Jim Burke, has been killed by rustlers.The ranch has a U.S. Army contract to furnish horses, but she sees little hope of being able to make good because the stock is being rustled, and she asks Gordon for his help.
A rancher caught in the middle of a bank robbery shoots one of the robbers. However, the dead bandit turns out to be a former ranch hand who was suing him. The rancher is arrested for murder.
The Government sends Dean, Baxter, and Gordon to investigate a series of train holdups. Travis is behind the robberies and they are soon on his trail. When things get hot, Travis has a plan of double-crossing his own men that will enable him to keep not only his gold but also the money it is insured for.
When Butch Taggart escapes prison, the Marshal sends Lightning Morgan to find him and his hidden gold. He finds the map to the gold on Taggart's boot. Joe Laikon and his men are also after the gold and they overpower Morgan, get the map, and head for the treasure. But Morgan and Tod Grant are soon on their trail
