Nellie and her father, the Colonel, are comfortable in their "Old Kentucky Home" until Wolfie knocks on the door. The evil wolf holds a mortgage against the Southern colonel's estate. Unless the money due is paid by a certain date, he and Nellie will lose their home. The wolf says that he will tear up the mortgage if Nellie agrees to marry him. Angered by such a hideous proposal, the colonel and Nellie throw the wolf out of their home. A young horse jockey says that he will win the Kentucky Derby and turn the prize money over to the colonel to pay off their mortgage. The wolf overhears this, and when the young jockey is on the road, the fiend clobbers the jockey and steals his horse. Mighty Mouse comes onto the scene and clobbers the wolf, and then helps the jockey win the Kentucky Derby. The colonel's estate is saved, and the jockey wins the hand of the colonel's daughter.

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