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At the entrance to Yosemite National Park in Wyoming, Ranger Dick Sherwood is interested in a visitor, Ruth Foster of Chicago. His friend, "Pay-Day," who is accompanied by his mule "Gertrude," expresses his desire to become a ranger in order to meet such pretty girls. Near a stream, Dick flirtatiously introduces himself to Ruth and learns that she is about to meet her father, who has been away mining in Australia for eighteen years, for the first time. Franklin Ross is the first visitor of the season to arrive at Old Faithful Inn, and is followed by detective John Alexander Hardigan, and by gangsters Marty Ryan and "Dynamite." Ruth's father James, who is housed in a remote cabin, meets his daughter awkwardly. Later, Dick and Ruth attend a camp-fire, where Yellowstone regular Old Pete tells tales of "Tracy Jenkins," "Anderson" and "Bald Jack," gangsters who buried ill-gotten treasure in the park twenty years earlier. At the same time, Marty stops by the Foster cabin for a chat with Jim and reveals that he is Jenkins' son. Aware that Jim is actually a gangster named Anderson, Marty demands a fifty-fifty split of the buried treasure. Jim leaves a note for Ruth and takes off early that night to go fishing, refusing a guide to Jackson Hole after an altercation with Dick. Later, Ruth reports to Chief Ranger Radell that her father is missing. Geyser Old Bess then erupts for the first time since 1909, spouting boiling water high in the air and throwing out the body of Jim. Dr. McGregor announces that Jim had been shot, but actually died from being frozen to death in the geyser. Radell then orders the park closed and gathers suspects. Hardigan tells Ruth that he has been employed by an insurance company to recover the $90,000 stolen by the Jenkins' gang. Old Pete mentions that Jim's horse returned wet, as did Ross later in the day. Marty and Hardigan, however, cast suspicion on Dick, pointing out that his gun has one empty chamber. After Pay-Day receives his ranger's commission, the inn's chef, Fong, locks him in the freezer to demonstrate how Foster might have been killed. Old Pete allows Dick to escape and find Ruth, who is following Marty. Ross, meanwhile, enters a cave under a waterfall, where he unearths old saddle bags and is found by Marty. There Ross reveals that he is Bald Jack. Dick and Ruth enter the cave and discover Marty's corpse and the frozen body of Ross. Hardigan appears, and he and Dick discover that a subterranean river flows to Old Bess beneath the ammonia-filled cave. When Hardigan pulls a gun, he is caught in the spout and is frozen, allowing the lovers to escape.