An old equestrian clown, Fritz Pheiffer, tries to convince Joey that he owns a farm. He's actually a stable boy, and when a horse is injured, the owner fires Fritz and he tries to rejoin the circus.

A Comanche Indian tribe joins the circus for a new act, but are soon accused of stealing horses. Only Corky believes that they're innocent.

Corky rescues a Gypsy boy, and the boy's tribe soon discovers that a runaway from their camp, Tula, is at the circus.