A businessman on the verge of bankruptcy, Mercadet, is harassed by his creditors. To keep them waiting, he invents a fictitious partner, Godeau, who has gone to make his fortune in India and who should return laden with gold. The heart of the plot is therefore this famous Godeau whom we spend our time waiting for, and who never comes. While waiting for Godeau, Mercadet has a rich idea: to marry his daughter Julie to Monsieur de la Brive, whom he believes to be very rich.
Oswald the Rabbit and his little brother catch the Slumberland Express and it carries the assorted animals to childhood's dream of paradise - an amusement park where all the games are free, and windows are provided just to be broken by an abundant supply of free rocks, and old men wear silk hats to provide targets for snowballs.
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.
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.
Hoping to rid a small western community of its corrupt political machine, Ken Marshall (Ken Maynard) runs for sheriff against the bad guys' candidate and wins the election.
Frankie Reynolds (Frankie Darro' ), youngest member of a family of jockeys, borrows $4.85 (yes, four dollars and eighty-five cents) from his sister Phyllis (Gladys Blake), who is not a jockey, to buy a crippled colt from the stables owned by Clay Harrison (Kane Richmond).