The territorial governor asks the Lone Ranger to investigate mysterious raids on settlers by Indians who ride with saddles. Wealthy rancher Reese Kilgore wants to mine silver on Spirit Mountain which is sacred to the Indians.
When the young Texas Ranger, John Reid, is the sole survivor of an ambush arranged by the militaristic outlaw leader, Butch Cavendich, he is rescued by an old childhood Comanche friend, Tonto. When he recovers from his wounds, he dedicates his life to fighting the evil that Cavendich represents. To this end, John Reid becomes the great masked western hero, The Lone Ranger. With the help of Tonto, the pair go to rescue President Grant when Cavendich takes him hostage.
Three Indians were brutally murdered by a gang of hooded outlaws. Each one possessed a silver medallion, which were sections cut off from a large silver plaque which served as a treasure map to a secret location where a large amount of gold is reputedly stashed. Two more medallions are unaccounted for, and the The Lone Ranger and his friend Tonto must use all their resources to intercept the gang, prevent further carnage and save the owners of the medallions.
The Stratton kids, Samantha and Chip, and their grandmother, Ada, drive to visit their Uncle Stuart. Grandma collapses and dies in a strange town, leaving the kids and Lassie on their own.
When not drinking and fighting, three wildcatters in search of a gusher are enthusiastically drilling for black gold. The trouble begins when one of them grows dissatisfied with their lifestyle and quits so he can be with his new wife. Unfortunately for him, soon after he leaves, the other two find their gusher and become filthy rich. The impoverished quitter is envious and begins looking for an obscure law that will force his pals to share.
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