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Billy the Kid doesn't really appear in Captive of Billy the Kid, but his memory lingers throughout this Republic "B"-western. According to screenwriters M. Coates Webster and Richard Wormser, Billy salted away a fortune in stolen gold somewhere in the hills. Before he died, he tore his treasure map into five pieces, giving one piece each to his most trusted friends--one of whom, Van Stanley (Grant Withers) eventually decides to grab all the loot for himself. When the other map-holders begin dropping like flies, Allan "Rocky" Lane is brought into the picture to tie up loose ends and thwart the villain--who, surprise or surprises, isn't the highly suspicious Van Stanley!