Camp Shasta is a plush camp for boys located in the north woods of Minnesota. An amateur prospector looking for placer deposits of gold, accidentally discovers diamonds along the river bed that borders the camp. With the camp open for the summer months, he is forced to put his search for more diamonds on hold unless he can find a way to close the camp. Employing the legend of the Wendigo, the man begins a campaign of scare tactics, hoping the parents of the campers will insist on closing the camp. Despite some initial success in using the Wendigo legend to induce fear in the camp, his further efforts are thwarted by alert camp counselors. The dramatic conclusion of this gripping tale answers the question of whether or not the Wendigo is a legend or a reality.