Valley of Wild Horses tells the tale of Panhandle "Pan" Smith from the time he was a small boy until he becomes a cowboy, known by many from Montana to Arkansas. His childhood sweetheart is Lucy and his rival is Dick Hardman who always gets in the way of their love. After a clash with Dick and loss of his horse, Pan leaves his home town and becomes known, sometimes for the wrong reasons, but he never forgets Lucy and his family. When Pan meets his old pals, he learns that his father has been swindled, and Lucy is being blackmailed into marrying Dick Hardman in order to save her father, he decides it's time for him to return and face his old adversary.