Mickey the mail pilot is entrusted with a chest of money. He battles rain and snow, but his biggest battle is against Pete, who has a plane equipped with a machine gun and a harpoon cannon. Mickey's plane quickly loses its wings and propeller to Pete's armaments, but he improvises a helicopter blade with a clothes-drying rack, then, when that gives way, a replacement prop from a windmill. At this point, Pete harpoons him, and Mickey drags Pete through a bell tower, demolishing Pete's plane. Mickey delivers the money to Minnie and brings Pete to the authorities.
This is the first cartoon where Billy Bletcher voices Pete, after having made a strong impression on the Disney studio when he voiced the Big Bad Wolf in Walt Disney’s The Three Little Pigs released the same year. Bletcher defined Pete’s character as a whole, infusing the villain's voice with a speech pattern inspired by 1920s and 1930s gangsters, using such phrases as "See?!", "Tough guy, eh?", and referring to law enforcement as "Coppers". Bletcher would continue voicing Pete until 1960 when the Disney studio closed down the short films department.