The two survivors of a ship's mutiny, each thinking the other is dead, cross paths at a dance hall in Dawson. Baxter, the ringleader of the mutiny, stabs Donahue, who hadn't participated in the mutiny, in order to eliminate the last witness. Yukon King brings Sgt. Preston to save the stabbed man. The next day Donahue tells his story to Sgt. Preston, who then tracks down Baxter.; Sgt. Preston breaks up a quarrel between two cantankerous old sourdoughs. One claims the other sold him worthless stock in the Golconda Mine. After the two settle down, Preston leaves. Meanwhile, three crooks, who are selling stock in what they thought was the worthless Golconda mine by fooling investors with "salted" golddust, find that there actually is a rich vein of gold there. They go to the cabin of the sourdough to force him to sign over the stock certificates.; A small gang, headed by "Stony" Logan, is terrorizing the Whitehorse District and the newspaper editor prints an editorial demanding action by the Mounted Police. Headquarters sends Sgt. Preston to investigate.