Trego Bill and Pete, two outlaws, are partners. While Bill is dreaming of going to a new country to commence all over again, and live on the square. Pete enters and asks Bill for money. Pete is angry, and takes out a reward placard, reading. “$500 reward for information leading to the capture of Trego Bill. John Kelly, Sheriff.” Pete decides to pose as a stranger and betrays his partner to gain the reward. The sheriff and his men, headed by Pete, start off for Bill’s cabin. Bill, in the meantime, has packed up, and leaving a note for Pete, starts away. On the trail he sees the sheriff and posse with Pete, and becomes suspicious. He hides until they have passed, then rides back to see what they are after. Dismounting some distance from the shack, Bill creeps up and overhears enough of their conversation to convince him that Pete has betrayed him. He hurries to where the sheriff’s horses are tied. Selecting Pete’s, he drives him off, so that when the sheriff and his men return, they mount and ride away, leaving Pete to catch his horse. As he comes up to his horse, Bill appears and accuses Pete. A violent quarrel arises. Pete shoots Bill and runs. Bill stops to bind up his wound, then follows. Pete runs on and on until he comes to a shack. Seeing a ladder leading to the loft, and fearing Bill’s appearance at any moment, he climbs up and crawls into the window. Pretty soon he hears voices below, and looking through a hole in the trap door, he sees a man and his wife putting away a couple of bags of gold. They soon exit. Pete drops down into the room and secures the gold just as the woman, who was only bidding the husband good-bye in the path, returns. She surprises Pete, and they struggle; Pete finally knocks her down, and picking up the gold to run out, runs by Bill. The wife runs out, calling after her husband and overtaking him as the men struggle. The man returns just in time to prevent Pete from killing Bill with his upraised knife. As the husband covers Pete with his revolver, Bill hears the sheriff and his men approaching. He runs out, leaving Pete to be placed under arrest.