A half-breed orphan boy, Lance, or Weasel, an orphan wild black colt, and an orphan deer fawn start out growing up around and with each other. The Indian boy known as the Weasel stays alive after running away from the Indian camp, but raids ranch houses or mining camps. He makea friends with the colt, just when the colt is almost old enough to ride the real world starts messing up his life.
Some one tries to shoot the deer, and steals his horse. He gets his horse back with the help of an eastern writer, and then has to leave the territory. With the help of another Indian they spend the winter in south Arizona. In the spring they take a half-breed Indian girl and bunch of horses and return back north. On the way they have Indian troubles, and outlaw troubles.
After arriving where they called home they start a horse ranch. Lance has a run-in with the man who stole his horse the first time, and he steals the horse again. Leaving Lance for dead.
He is rescued by a young lady who also claims the black horse. After he is back on his feet, he sets out again to find the man and his horse, and encounters a big horse race and makes some new friends with a race horse,* from the book I call, ‘Race’, and has another shoot out.
After returning and falling in love with the girl that also claims the black horse they set up a match race between the black and the other friends' blue roan race horse, with lady riders on both horses.