Chad and Joe are sent to Guarded Wells to dispose of the Ramirez Gang. They do and a grateful town rewards them with food, drink and hotel rooms for free. Chad devises a way he and Joe can take advantage of this and wires the Captain that the Calico Kid is headed for town. Afterwords they learn that the real Calico Kid, a road agent 30 years earlier, is now Sam Lowell, an older man who has since become a model citizen. Not wanting to cause trouble for Sam, Chad and Joe work out a plan to put on a mock shoot-out during which the Calico Kid(Chad)is killed. Meanwhile, Sam's niece Lorrie sends a telegram to Parmalee asking for more men, stating they are doomed to destruction because of the Calico Kid's impending visit. Parmalee gets suspicious and rides to Guarded Wells with Reese. Town businessman Jacobus Carson, who originally hired Ramirez finds out about the Rangers Calico Kid plan and decides it would be a good time to rob the gold bullion from the bank. Chad and Joe stage the

Prince Lazlo of Ambrasia is fascinated with the Texas Rangers and picks Laredo as the site to sign a treaty with Aguacaldo. His half sister Helena and consort Karl see this as their perfect opportunity to kill Lazlo, which they attempt with poison and a hired gun. Chad Cooper is a dead ringer for the Prince and Captain Parmalee decides they should switch identities for the Prince's safety. Reese believes the Prince to be Chad dressed up until the Prince passes out from drinking a shot of red-eye. The ruse is eventually figured out by Helena and Karl whose hired gunman goads the Price dressed as Chad into a gunfight. Chad is able to substitute for the Prince at the last moment and scares the gunman off with his fancy gun-handling. The gunman kidnaps the Prince and demands more money from Helena. Reese and Joe rescue the Prince and return him in time to sign the treaty and expose Helena and Karl.