Penniless drifter Steve Davis finds young Jimmy Thomas just after his father is killed. The two become friends and Steve looks for work. This brings him to town where teacher June Caldwell has lent money from the school fund to the dishonest Jess Watson, She now desperately needs it back and Steve soon finds himself in the middle of the conflict.
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.
Little Elmer Elephant has a crush on Tillie Tiger and his affection is reciprocated. Trouble is, the pint-sized pachyderm is beset by bullies who ridicule his trunk and make his life miserable.
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).
