Monte Banks is a member of the horsey set away down south in the land of mint juleps. He's in love with Ena Gregory, daughter of Jeff Osborne. Osborne has two horses in the race today, but Ashley Cooper wants Miss Gregory and the victory, so he has some henchmen remove Osborne's jockeys. This means, by the usual movie logic, that Banks and Cooper will wind up riding the horses, with the winner also getting Miss Gregory.
The copy I looked at is a patched-together one with footage recently found at the Library of Congress. The people who did the work estimate that about 80% of the original movie is now there. There's some continuity issues, and I believe some gags missing, making this not one of Banks' better silent shorts.
