An anonymous New York investor sets in motion a hostile railroad takeover financed by more than a million dollars in counterfeit bearer bonds issued by a rival railroad. The work is carried out by a ruthless, ultra-secret crime syndicate using an enigmatic beauty hired to beguile unsuspecting bankers while passing the bogus paper. The Texas & Pacific Railroad turns to Pinkerton to stop the fraud while victimized banks retain the Great Western Detective League to recover their losses. Colonel David J. Crook assigns the case to ace operatives Briscoe Cane and Beau Longstreet. Pinkerton partner Reginald Kingsley is joined by seductively talented agent Samantha Maples in a pursuit that races across the west and southwest, riding the rails from one exciting encounter to the next. Kingsley and Cane match deductive wits to outsmart the mysterious bogus bondsman. Maples and Longstreet engage in a friendlier match with neither taking their eye off the prize. Syndicate muscle resorts to ambush and assassination in a desperate attempt to stop their pursuers from foiling the plot. Nothing will stop them, including terminating their own bogus bondsman.