Dr. Ann Wotters, working at the Brockhurst Institute of Research in Los Angeles, is devastated when she learns that her uncle, Dr. Homer Pecke, will be let off because the institute can't afford to keep him on staff and his research project running. The institute would need another $20,000 to afford Pecke's services.
Richard Briand-Charmery est connu sur tous les champs de courses comme « le Commandant ». À l'hippodrome de Longchamp avec Charly, un garçon d'écurie, il escroque ceux auxquels il vend des tuyaux. Un boucher, un patron de boîte de nuit, Arthur son ami... puis le restaurateur Gaspard Ripeux. Les jours de vaches maigres, il va déjeuner chez sa sœur Thérèse, subissant stoïquement les sarcasmes de son beau-frère Hubert, riche industriel.
Les étranges rapports d'amour que la comtesse Frederica, débauchée notoire, mais cavalière émérite, entretient avec un superbe étalon noir en qui elle voit la réincarnation de son vertueux cousin Wilhelm qui l'a dédaignée et dont elle se culpabilise de la disparition dans l'incendie de son écurie qu'elle a commandité par vengeance…
Antonin est un ouvrier de ferme dans un petit village de Provence. Un jour, son patron lui demande de conduire Ulysse, un cheval de travail âgé de 28 ans, à Arles pour le remettre à un picador qui l'utilisera dans les corridas.
A young boy, Tom Tiflin (Peter Miles), is given a small pony by his father (Shepperd Strudwick). Tom asks the stable helper, Billy Buck (Robert Mitchum), to help him raise and train it so that it can be ridden. During a rain storm the pony gets out of the stable and having been soaked becomes fevered. Despite Buck's best efforts to nurse the pony it develops strangles and requires a tracheotomy. Shortly after the procedure, the pony escapes from the farm. Tom follows the pony's hoof prints to a gully where it has died and is being eaten by vultures. He blames Buck for not saving its life. Buck, feeling remorse, prepares to kill his own pregnant mare in order to give Tom a colt, believing the unborn may not have turned. Tom grows angry at Buck's willingness to sacrifice a horse and steals his knife. When they return to the stable the foal has been born naturally, with both mother and colt surviving.
A stationary camera looks diagonally across a racetrack toward the infield showing the horses as they pass. Once the horses have passed the camera it is clear that the race has come to an end and there is a close finish between three horses. Once the race is over police officers run onto the field. The camera also displays various members of the audience moving around.
John Sheldon is falsely accused by Frank Nolan of killing Lou Salters. With his owner now in prison, Nolan steals Sheldon's horse Rex with plans to ride him in a big race. Sheldon's dog, Rinty, Alice Ingram and her sidekick Henry rescue Rex and Alice rides him in the race instead. The winnings from the race are used to pay for Sheldon's defense.