The Cisco Kid baffles a professional magician by smashing a fund-raising racket. Mayor Brandon of Jamesville is front man for a racket; he collects money form the citizens to be used for monuments but the money goes to a shrewd bandit named Silk who has the Mayor under his thumb. To provide the entertainment for his "fund-raising" rally, he imports magician Orlando of Australia, and gets Cisco and Pancho to escort him into town. Cisco learns Silk's mob plans to arrest the magician to cover their own crimes, and removes Orlando to the county seat for safety. Pancho masquerades as the magician, but before the rally can place, the sheriff is murdered. Cisco tries a few magic tricks of his own to unmask Silk and the crooked Mayor in a breathtaking climax much to the surprise of Pancho!