This 18th entry, of 19, in PRC's 'Billy the Kid' series (first six starring Bob Steele and the last 13 with Buster Crabbe) finds town banker John Martin (Karl Hackett) calling on Billy (Buster Crabbe) and Fuzzy (Al St. John) for help in capturing the men that robbed his bank. Billy figures that sooner or later some of the money will be put in circulation and, through the serial numbers, the outlaws can be identified. The gang is led by town Mayor Dave Hill (Ray Bennett) who wants to wipe out the bank and the rancher's money source so that he can take over their lands that are on, unknown to them, rich oil deposits. Billy suspects the Mayor, but before he and Fuzzy break into the Mayor's office and find the stolen money, John Martin is framed and accused of robbing his own bank.