Dan Reid and Carlos meet on the stage. Carlos has been away to Spain for years and convinces Dan to exchange clothes with him. The stage is robbed, the real Carlos shot and Dan is kidnapped as they think he is Carlos. Ransom for the return of Carlos is the plan. Dan (as Carlos) sends smoke signals and Tonto tries to rescue him but he is also captured. When the Lone Ranger takes the ransom money from a kidnapper and they get suspicious of each other and start fighting among themselves. The Lone Ranger and Tonto take advantage of the fighting to win out over the kidnappers.
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