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John Reid, the sole surviving Texas Ranger of a murderous ambush, becomes the great masked hero with his companion, Tonto.
The origin of the Lone Ranger's horse Silver and his use of silver bullets is explained.
The Lone Ranger still on the trail of Butch Cavendish and his gang sends Tonto to the town of Colby to organize a posse with the deputy sheriff. Tonto receives no help and the suspicion is a number of people in town are working for Cavandish. The Lone Ranger must…
Bob Kittredge is being forced by Red Devers to sell the ranch he inherited from his father. The Lone Ranger and Tonto, aided by Banty Bishop and the old ranch hands rescue Kittredge, and the ranch (and jobs of the ranch hands) are restored.