After saving himself from hanging, Laramie Nelson saves Tracks Williams from the same fate. They then travel to Lindsay's ranch where they get jobs. There they run into Adams who they learn is planning to rustle Lindsay's horses.

Although Larry "Buster" Crabbe earns top billing, the hero of Drift Fence is former Western star Tom Keene as Jim Travis, who, at a rodeo, meets city dweller Jim Traft, who has come west to erect a fence that will prevent Clay Jackson from continuing his cattle rustling business. A tough Western type, Travis suggests that he impersonate Traft and the building of the fence soon begins. But Travis is opposed by Slinger Dunn and his family, whose small ranch will suffer from the division of the land. A romance between Travis and Slinger's sister, Paula, paves the way for a meeting of the minds, however, and Slinger switches sides completely upon learning that Travis is a Texas Ranger in disguise.

Chet Kasedon is after the Indians hidden gold mine but Chief Moya will not reveal it's location. He has also hired mining engineers Gale and Mortimer to locate the mine. When Gale sees Kasedon's cruelty to Moya, he switches sides.

It's 1860 and the old Spanish land grants are being surveyed. Montez is after part of Don Regas' rancho and gets the surveyor to alter the boundary. But Don Regas still has the original grant written on a bandanna. Montez sends Indians after it but Bill Cody and Gabby fight them off and a wounded Gabby unknowingly ends up with the missing million dollar deed wrapped around his arm for a bandage.

A carny builds a gambling empire at the expense of his family's wellbeing.

Dare Rudd takes a shine to his cattleman cousin Tom's girlfriend who asks Tom to hire Dare to head the big cattle drive. Dare loses the money for the drive to cardsharps, but Tom wins it back, but Dare must save Tom's life.