Two wolves want to steal Gandy Goose's flock of sheep. They disguise themselves as "Clark Wable" and "Spencer Twacy" and try to kill him while he thinks he is learning to be an airplane pilot in this average Terrytoon.
Victor Fleming's TEST PILOT starring Clark Gable and Spencer Tracy had come out in the spring, so this cartoon references that, although the wolves' voices are Baron Munchausen (Jack Pearl) and Bert Lahr imitations to go with Gandy's Ed Wynn voice. The gag construction is fast-paced, but the net effect is more frantic than funny -- although the poor print that I looked at may have affected my reaction.