Confidence man S. Quentin Quale (Groucho) heads west to find his fortune. In the train station, he encounters crafty brothers Joseph (Chico) and Rusty Panello (Harpo) who manage to swindle his money. The Panellos are friends with an old miner named Dan Wilson (Tully Marshall) whose property, Dead Man's Gulch, has no gold. They loan him their last ten dollars for a grub stake and he gives them the deed to the Gulch as collateral. Unbeknownst to Wilson, the son of his longtime rival and beau to his granddaughter Eve Wilson (Diana Lewis), Terry Turner (John Carroll (actor)) has contacted the railway to arrange for them to build through the land, making the deed holder rich.