Somewhere In Texas, the legendary masked man known as The Lone Ranger and his native colleague Tonto work to discover the reason why several white people are being massacred by some masked Indians. Meanwhile, a rich farmer known as Mr. Kilgore has a cruel plan in hand against the local Indian tribe: to provoke a war involving the natives and white ranchers. Kilgore plans to exploit "Spirit Mountain" in the Indian territory for its silver deposits. The Lone Ranger realizes that the natives wanted to keep settlers away so they would not discover and take control of the silver deposits. Kilgore, using his ranch hands disguised as Indians, attempts to begin a fierce conflict that would annihilate the tribe. The Lone Ranger's efforts to prevent the conflict are hampered by an internal power struggle between ailing Chief Red Hawk and the ambitious young Angry Horse.
The Masked Man and Tonto ultimately prevent the war between the ranchers and the Indians, and also defeat Angry Horse's bid to unseat Chief Red Hawk. Kilgore is fatally shot by his henchman, Cassidy and peace is restored to the territory.
In a contemporary review for The New York Times, critic Bosley Crowther wrote: "You would think that, after all these years of championing law and order on the screen and radio, not to mention television, the Lone Ranger would be pooped. At least, you would think the people assigned to keeping him going would be tired of all those endless cattle rustles, slashing fist-fights, and western cliches. But apparently, a new team at Warners has taken over reviving the famous masked hero in all his glory in color and CinemaScope and has had at the task with the vigor of zealots inspired by a fresh idea. And 'The Lone Ranger,' which opened yesterday at the Mayfair, has the unwearied spirit of a noisy kid."[6]