Story of a boy and his horse. Mike is the horse and is owned by Speck and his best friend Jimmy, together they have a paper route, on which they deliver papers to customers via a wagon pulled by Mike. Recently a horse track has been built in the area and attracts horse breeder and racer Colonel Whiteny. He takes out a subscription for delivery and meets Mike and Speck & Jimmy. Clever Jimmy talks both the Colonel and Speck into taking on the Colonel's pure bred race horses at the track with comedic results..