When Reese, Chad and Joe capture the Morgan gang it includes 14-year-old Grey Smoke. Joe helps him out and gets him hired as a runner for the Rangers. Reese is assigned to trackdown cattle rustlers, leaving only Chad, Joe and Parmalee left in Laredo. They notice that gunslingers are drifting into down, nine in all. They discover cattleman Stan Greevy is responsible for hiring them as he is upset about the cattle rustling. Parmalee is more concerned about the gunslingers starting a range war. Greevy goes to the saloon and tries to pay them off but the outlaws have noticed the lack of rangers and have decided to rob the town. Parmalee, Chad and Joe wait outside the saloon and a gunfight ensues. Grey Smoke knocks out one gunslinger at Ranger Headquarters and jumps on Jug Herriot from a rooftop when he gets the drop on Joe and Chad.

Reese's inventor friend Major John Cane is called upon to open a locked bank vault. Outlaw Ezekiel Fry sees him do it and tricks him into helping his gang rob the Porfirio Bank. Reese, Chad and Joe are sent to Porfirio to investigate the robbery. Realizing he's been deceived the Major refuses to help rob the Cattleman's Exchange until Fry and his gang kidnap Reese and threaten to harm him. Then Cane invents a precision plan that requires the outlaws to practice their parts in a barn. Chad and Joe follow a dog that has hung around them since they arrived in Porfirio, hoping it will lead them to Reese. Major Cane cuts Reese lose while the outlaws are practicing the robbery and the fight begins just as Chad, Joe and the dog arrive.

Reese gets the drop on outlaw Johnny Rhodes but his horse Cactus is spooked by a rattler and Reese is thrown and knocked unconscious. Rhodes' horse is lame so he takes Cactus. When Reese wakes up he has amnesia and because of the horse with Rhodes name on it he is mistaken for the outlaw. Chad and Joe have been sent to track Rhodes in the hopes it will keep him too busy to attack a gold shipment. They come upon Reese in San Rosa and observe him as ""Johnny Rhodes"". They approach him as his ""outlaw"" buddies, assuming he is undercover. After their conversation they get the true picture of Reese's condition. Reese has Mio, the cantina owner with eyes for Reese, help him tie up Chad and Joe after they've been slipped knockout pills. The real Rhodes appears with his gang. They take Reese, Chad and Joe prisoner and tie them up in the cantina. Mio cuts their ropes and helps them fight off and capture Rhodes and his gang.