The Cheyenne Kid (1940)

"Meet the bulls-eye-blastin' champ of the badlands...in a matchless BULLET BATTLE!"

A ranch owner gives the Cheyenne Kid $1000 and sends him off to buy cattle. At the same time he fires a ranch hand and that hand rides ahead and alerts Jeff Baker about the $1000. Bakers' henchman are too late to get the Kid but they kill the rancher paid by the Kid. The Sheriff then arrests the Kid claiming he murdered the rancher to get the money back and that Baker said he then lost it at his gambling table.