In the summer of 1937, a dangerous gang of counterfeiters is redirecting their illicit currency from the United States into Canada, concealing the money inside frozen trout. The Royal Canadian Mounted Police pledge full cooperation with United States Treasury officials, and an RCMP Constable MacDonald, played by Donald Reed, is dispatched to help crack the case. While riding near Deer Lake, he spots a suspicious Indian paddling a canoe; when he calls out, the man disappears into the woods. A curious ice block is left behind, and a careful examination reveals the counterfeit money hidden inside the frozen trout. The Indian, Pierre, who works for the counterfeiters, witnesses the discovery and kills MacDonald with a swift knife throw, cutting the first thread of this tense operation.
Meanwhile, RCMP Sergeant Renfrew, portrayed by James Newill, arrives with his crew at the Deer River Annual Picnic. There, he crosses paths with Virginia Bronson, a nineteen-year-old American, whose presence becomes central to the unfolding events—Virginia Bronson Carol Hughes. Renfrew invites her to partake in the festivities, including a friendly contest to see who can craft the best barbecue sauce, a rivalry that pits him against George Poulis, the Greek lodge owner. Poulis is introduced as the lodge’s influential figure, George Poulis William Royle, whose charm masks a dangerous entanglement with the counterfeit ring. The cheerful picnic mood dissolves when news arrives of Constable MacDonald’s death, seeding a deeper pursuit for justice. Inspector Newcomb then charges the team to spare no effort in capturing the killers, and Renfrew quietly offers solace to MacDonald’s grieving family, especially his son Tommy [Dickie Jones].
Back at the Deer River Hotel, Virginia’s evening takes another turn when she returns to her room and encounters Pierre, who delivers a note from her father asking her to meet him at the Totem Pole Lodge. Virginia’s father is revealed to have been deceived into joining the lodge’s operations, summoned to provide new counterfeit plates for the gang. The man behind the demand is James Bronson, a former counterfeiter who has just completed a prison sentence and has found himself pulled back into the scheme. The line between ally and adversary blurs as Virginia learns that her father’s entanglement is part of a larger plan to expand the operation.
The next day, Virginia and Pierre glide toward the lodge in a canoe, but Renfrew spots them and closes in. When Virginia tries to grab a rifle from the intruder, a scuffle ensues and the trio ends up in the water. Renfrew dives in to save them, and Pierre escapes into the shadows. Around a crackling campfire, Renfrew and Virginia spend time getting to know each other, though Virginia keeps silent about her father’s presence at the Totem Pole Lodge. That night, while Renfrew is dozing, Pierre returns and Virginia slips away with him toward the lodge, drawing Renfrew deeper into the puzzle.
As the plot thickens, Bronson continues to be a pivotal, if enigmatic, figure—he is pressed into completing a set of counterfeit plates as the lodge becomes the headquarters of the operation. Pierre and Virginia’s journey toward the lodge accelerates, and along the road they encounter Poulis’ henchmen. The pair warns the criminals that Renfrew is pursuing them, and a tense confrontation erupts. Renfrew, aided by his loyal dog Lightning Lightning the German Shepherd, overpowers the two attackers, seizing their car and arresting them. Studying the seized bills, Renfrew discovers a hidden message etched into the currency design—Bronson has been captured and is being held prisoner at the Totem Pole Lodge.
With a plan in hand, Renfrew steals an aircraft, soars over the lodge, and parachutes onto the property. Poulis pretends to offer hospitality, but Renfrew remains vigilant. He later observes suspicious figures loading a car with blocks of ice and gives chase; the car crashes, and the truth about the trout-laden counterfeit money comes to light. Back at the lodge, a climactic gunfight unfolds between Renfrew and Poulis; the Greek lodge owner is fatally shot and ultimately taken into custody, closing the criminal operation. The final arc resolves with calm and a sense of closure as the case wraps up.
Under a moonlit Deer Lake, Renfrew serenades Virginia from a canoe, the quiet moment watched over by Lightning, the steadfast dog who stood by throughout the perilous pursuit. The tale blends rural charm with brisk pursuit, weaving together the threads of deception, loyalty, and justice as Renfrew’s courage and persistence push the counterfeiting plot toward its dramatic conclusion, leaving the lake and the lodge behind them with a renewed sense of safety and hope.
