Porky is sent by his father to deliver some feed to the horse racetrack and be paid eleven dollars for the work. On the way home, he arrives at an auction and accidentally spends the money on a horse named "Teabiscuit". Teabiscuit turns out to be a sick, broken down horse, but Porky is able to shape him up so he can race. Despite this, Teabiscuit can not clearly think well. With help from a balloon pop, however, Porky is able to procure a victory and win back his money.