Old Time Radio Westerns: "Mortgages Paid Off"
Show: The Lone Ranger
Original Air Date: June 19, 1942
Podcast Release Date: April 9, 2026
Host: Andrew Rhynes
Episode Overview
In this episode of The Lone Ranger, listeners are transported to Greg's Corners, a frontier town facing devastation as a series of misfortunes strikes its settlers. Fires burn homes and barns, cattle are poisoned, and suspicions run high as nearly every rancher faces foreclosure. Blame falls on Greg, the town founder and holder of the mortgages, but the real schemer lurks in the background. As the community fractures and people prepare to abandon their land, the Lone Ranger and his trusty companion Tonto ride in to uncover the truth, expose a greedy plot, and deliver justice. At its heart, this episode is a tale of deception and redemption—themes central to the Western genre.
Key Discussion Points & Story Breakdown
The Struggles of Greg's Corners (03:07–07:30)
- Widespread disaster: Ranchers lose cattle to poisoned water holes, barns are burned, and property lines are sabotaged.
- Rising tensions: The settlers accuse Greg of orchestrating these tragedies for financial gain by reclaiming land through unpaid mortgages.
- Hank: "You let us all build up our land and now you're taking it away from us… we're all pulling stakes." (04:45)
- Lem slugs Greg out of despair and anger, believing him to be responsible.
Despair and Destruction (07:35–09:30)
- Greg’s Home Set Ablaze: Greg tries to rescue his wife from the flames but is saved by the masked Lone Ranger and Tonto.
- Jane (Greg’s wife): "After all the years we lived there… now what will we do?" (09:18)
- Greg’s isolation: As he loses his reputation and home, Greg confides in Watson, the only man who appears to stand by him.
The Ranchers’ Exodus (09:31–11:55)
- Mass departure: Settlers gather at a water hole to form a wagon train to "New Diggins," believing Greg to have betrayed them.
- Lone Ranger intervenes: Tonto convinces settlers to remain at the camp, holding their horses to ensure compliance.
- Hank (frustrated): "I don't see anything funny… I know who that Indian's partner is. It's the Lone Ranger." (11:45)
The Shady Deal (11:58–15:00)
- Watson’s deception: Watson offers to buy up Greg’s now-worthless mortgages, giving Greg cash to cover his own debts.
- Watson (gloating): "I’ve spent less than $2000 and I’ve got land that'll bring me over $50,000." (14:45)
- Watson’s true motive: He's gambling on the land’s future value, believing the railroad will increase property prices.
The Lone Ranger’s Investigation (15:56–20:32)
- Lefty’s role: A shifty character, Lefty, is sent to spy on the settlers by Watson.
- Surveyors arrive: The camp hosts railroad surveyors, who reveal the planned tracks won’t run through Greg's Corners but rather near the settlers’ new camp.
- Surveyor Jack: "Anyone with gumption enough to bring a family out and set up deserves the help they get." (18:19)
- Lefty panics: Realizes Watson’s plan won’t pay off with the railroad’s route and rushes back to report.
Truth Unveiled & Justice Delivered (20:33–28:18)
- Climactic revelation: The Lone Ranger brings Greg to the settlers’ camp to observe Watson’s “generosity.”
- Watson to settlers: "Now how would you like to get back your land? … You can stake the new land here, lay claim to it, then swap with me." (23:05)
- Lone Ranger exposes the plot: He reveals Watson orchestrated sabotage and arson, using Lefty as his agent. The scheme depended on the false belief that the railroad would raise the value of Greg’s lands.
- Lone Ranger: "Watson wanted your land. He hired Lefty to harm you, then bought the mortgages after he’d broken Greg." (26:52)
- On the proof: "Compare his boots with footprints near the woodshed at the fire ground."
- Justice without vengeance: Instead of jail, Watson’s money covers the damages, and the settlers regain their farms.
Restoration and Forgiveness (28:18–28:56)
- Community rallies: Settlers apologize to Greg for their mistrust and vow to rebuild his home.
- Greg (overjoyed): "Boys, just wait for Shane to hear this… this is the happiest day of my life!" (28:55)
- Lone Ranger departs silently, leaving gratitude and peace in his wake.
Notable Quotes & Memorable Moments
- "You let us all build up our land and now you're taking it away from us." –Hank, addressing Greg on the widespread suspicion and despair. (04:45)
- "I wish I'd never heard of a mortgage." –Greg, at his lowest, reflecting the community’s financial hardships. (12:50)
- "I’ve spent less than $2,000 and I’ve got land that'll bring me over $50,000!" –Watson, uncaring of the townsfolk’s fate, revealing the scale of his greed. (14:45)
- "Watson wanted your land. He hired Lefty to harm you, then bought the mortgages after he’d broken Greg." – The Lone Ranger, exposing the full scope of the conspiracy. (26:52)
- "This is the happiest day of my life!" –Greg, following the villagers' acceptance and the restoration of the community. (28:55)
Important Timestamps
- 03:07: Opening narration and setting of Greg’s Corners.
- 04:45: Settlers confront Greg about the series of calamities.
- 09:18: Greg’s house burns; emotional moment with Jane.
- 11:45: Tonto and Lone Ranger keep settlers in camp pending investigation.
- 14:45: Watson gloats about buying mortgages cheap.
- 18:19: Surveyors reveal the real railroad route.
- 23:05: Watson attempts to "generously" swap land with the settlers.
- 26:52: The Lone Ranger’s final confrontation and unmasking of the scheme.
- 28:55: Greg’s joy and the restoration of community spirit.
Episode Tone and Language
The episode balances suspicion, despair, and tension with moments of redemption and classic Western camaraderie. The language is direct, earnest, and period-appropriate, lending authenticity to the characters’ hardship and the eventual triumph of honesty and justice.
Summary
"Mortgages Paid Off" is a quintessential Lone Ranger episode wrapping community, justice, and frontier spirit into a compelling tale. Through clever investigation and moral steadfastness, the Lone Ranger restores not only land titles but also the bonds of trust among Greg’s Corners’ settlers—reminding listeners that in the Wild West, truth and fairness will always ride again.