- Son of Colonel Haddington, Bob leads a posse against raiders in a settlement. During his absence, one of the prize horses is stolen and his father is killed. Bob swears revenge and becomes known as Velantrie, leader of a band of semi-outlaws, and befriends a priest, Father Hillaire. At a mission, he meets Val, daughter of John Hannon, a wealthy ranch-owner. Later, Bob is suspected of being the feared "Black Rustler," but he learns that Hannon is indeed the guilty party and the man who killed his father. Bob decides to leave; but he meets Hannon, who has been wounded, and exchanges places with him. Hannon confesses to Val and dies in her arms; she rides to rescue Bob just as he is about to be hanged.—Pamela Short
- At the Rancho Haddington in Mexico, Colonel Haddington and his son Bob are welcoming their two prized horses, Comet and Meteor, just returned from El Paso. "We drink the health of the best horses that ever left the field behind," says the Colonel. In the nearby village of Santa Dolores, where Father Hillaire is ministering to his peons, Mexican troops raid the town under the pretense of collecting back taxes. Father Hillaire asks Bob for help, and the young man gathers up a handful of cowboys. They ride to Santa Dolores, scatter the Mexican troops, and restore the funds. Back at Rancho Haddington, two masked riders attempt to steal Comet and Meteor. Colonel Haddington surprises the thieves, but is shot down just as Bob returns from Santa Dolores. Bob intercepts the murderer's horse and tears the mask from the man's face, but the two thieves escape with Meteor. The Colonel dies that night and Bob declares he will not rest until he has found Meteor and the men who killed his father.
Bob becomes a law unto himself. Using the name Bob Velantrie, and riding Comet, he assembles a band of men to fight injustice. Bob and his men pay a visit to a wealthy half-breed ranch owner who has been exploiting the peons. They take a bag of his gold, then head for Refugio Mission, where Father Hillaire has established a refuge for peons driven out of Mexico. Father Hillaire refuses to take the gold, and implores Bob to give up his wild life and ideas of revenge.
Val Shannon is the daughter of John Hannon, the biggest rancher in the district. She arrives at the mission on her daily visit to the refugees. The priest senses the instant attraction between Bob and Val, but Bob admits to Father Hillaire that he is not fit for a girl like Val. As Bob leaves, he drops the bag of gold at the priest's feet, prompting Father Hillaire to accept the offer as "a doubtful means to a holy end."
After leaving the mission, Bob meets his men at Santa Leandra, where he gets into a poker game with a man named Brideman. Brideman is a mysterious character, always seeming to have plenty of money, although no one knows where he gets it. During the game, Lola Sanchez flirts with Bob. Bob cleans out Brideman. Lola suggests that Brideman use her as a stake against Bob's winnings. When Bob wins again, Lola says to him "you are my master now." Bob laughs and shrugs her off.
At Hannon's Paradise Ranch, a delegation of ranchers confer with Hannon about the Black Rustler, who has been riding off cattle. Dyke, one of the ranchers, mutters "funny thing, John Hannon hain't never lost no stock. What's your magic, John? I'm cur'ous." Hannon taps the butt of his revolver and replies "here's my magic, Dyke - want to see me make it?" The other ranchers quiet Dyke down, and agree to organize against the Black Rustler with Hannon as their leader.
Bob rides to the mission, where he meets Val. They also meet a Mexican woman whose husband has deserted her, so Bob promises to try to find him. Bob searches the border country for several weeks, to no avail. Then comes the Fourth of July dance in Santa Leandra. Bob and his men appear there, and Lola immediately tries to attach herself to Bob, much to the anger of her jealous Mexican lover. Val and some cowboys from her ranch show up just as the Mexican attempts to shoot Bob. Val thwarts the attempt by grabbing the man's gun. Bob thanks her for saving his life. Lola turns to Brideman for comfort.
Back at Paradise Ranch, Hannon tells his servant Jose to make sure that his horse, Redstar, is safely locked in the stable. Val and the cowboys return at dawn, and discover that Redstar has been stolen from the stable during the night. Hannon blames the Black Rustler and sends out a notice for all the ranchers to meet him that afternoon to discuss plans to capture the thief.
Val goes to the mission, where Bob appears with the Mexican deserter for whom he had been searching. The man discovers his wife had given birth during his absence. The reunion of the married couple serves to bring Bob and Val closer, but as Bob and Val leave the mission, he quietly tells Father Hillaire "I know padre, she is like your church door - forbidden to me." Meanwhile, Lola, still angered at Bob, remains close to Brideman, who tells her he knows a secret about the Black Rustler. Lola, believing that Bob is the Black Rustler, tries to worm the secret out of Brideman. Bob finally admits to Val that he is a hunted outlaw who has sworn to kill a man. Val replies "but you must repent - break your oath. The door is open at Refugio and in my heart." Bob tells her how his father was killed, and that he will know the killer when he sees him. They come upon Hannon and the other ranchers. Bob instantly recognizes Hannon as his father's killer. The pair engage in a shoot-out. When Val rushes toward Hannon yelling "Father," Bob lowers his revolver, claiming he was mistaken.
Val, confused, asks Bob to explain. Bob says they must part - that some people suspect he is the Black Rustler. He rides off. Brideman, infatuated with Lola, tells her that the Black Rustler is planning to ride in a day or two. Lola quickly goes into town and warns one of the ranchers that the Black Rustler is about to raid. Although dubious, the other ranchers post a guard along Blind Trail Pass, where the cattle had been run off. The foreman of Hannon's ranch notices the servant Jose going into the hills, so he follows him. The range is suddenly lit with signal fires, warning the ranchers that the Black Rustler is at work. Hannon's cowboys start out, declaring they will capture and hang the thief. The Black Rustler and his partner are driving off some cattle.
It is now revealed that Hannon is the Black Rustler, with Brideman his partner. But Hannon does not know that Brideman has tipped off Lola. When a band of cowboys come upon Hannon, Brideman escapes, but Hannon is badly wounded. He manages to hide and then heads for his ranch. Hannon's foreman, who has continued to follow Jose, finds Hannon's missing horse Redstar in a canyon. Redstar gallops off toward Hannon's ranch.
Back at the mission, Father Hillaire confesses to Bob that Hannon is the Black Rustler, and that Hannon is riding into a trap. For Val's sake, Bob decides he will draw off pursuit from Hannon. Riding Comet, Bob sets out for Blind Trail Pass and finds the wounded Hannon. Bob takes Hannon's hat, and while Hannon rides for the ranch, Bob draws off the pursuers. Hannon reaches home, but dying in Val's arms, he confesses that he is the Black Rustler, and that Bob has taken his place. Val wants to ride off to help Bob, but there is no horse left on the ranch. Just then, Redstar comes galloping home. Redstar is in fact Meteor, the horse stolen from Bob's father. Val mounts the horse and speeds off to help Bob. Now the two horses, Comet and Meteor, each carrying Bob and Val, come together at Blind Trail Pass, where a guard is waiting. The pursuing ranchers grab Bob, but Val forces her way through the mob and announces that her father was the Black Rustler, and that Bob was only trying to throw off the pursuit. The ranchers are skeptical, but Brideman, who has been captured, confirms Val's story. Bob is set free, and he and Val ride back to Paradise Ranch. Brideman, about to be hung by the ranchers, says "give my love to Lola, the little vixen."
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