A dangerous killer breaks out of the Oklahoma state penitentiary and heads for Mexico, where he plans to kill a famous bullfighter and his wife. Rangers Jace Pearson and Clay Morgan try to intercept the convict before he can carry out his plan.
After a pyromaniac escapes from a mental hospital a number of buildings with policies issued by the same insurance company are burned to the ground. The insurance investigator insists that the arsonist must be the escaped fire bug, but Pearson and Morgan think the arsonist's modus operandi point to another perpetrator.
In the 1880s, Rangers Pearson and Morgan are order to find a herd of horses stolen from the U.S. Cavalry at Fort Davis which have apparently disappeared into thin air. They encounter a man who has manufactured a glider and Pearson arranges to use it to search the rough ground near the Fort. His efforts are hindered by a storekeeper who has convinced the townsfolk that flying is against the laws of nature.
Jace Pearson recounts the tale of how his great-grandfather first met the great grandfather of current Texas Ranger Clay Morgan. When the 19th Century Jace was sent to clean up the wave of lawlessness sweeping Rubyville Valley, he was captured by one of the outlaws, but was rescued by a roving cowpoke named Clay Morgan. The two team up to smoke out the outlaws operating under the nose of the local sheriff.
Pearson and Morgan convince a businessman to testify before a grand jury about a protection racket collecting kickbacks from shopkeepers. The crooks strike back by kidnapping the businessman wife. The rangers hit upon a desperate plan to track the crooks to their hideout.