Porky is sent by his father to drop some feed off to the horse racetrack and get paid eleven dollars for the work. On the way home, he arrives at an auction and ends up accidentally spending 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 ensure a victory and get back his money.
First cartoon to have "WARNER BROS." and "Present" instead of "VITAPHONE" and "Presents", although in a banner. The "WARNER BROS." text would have different font variations during the season, before finally reverting to an all-uppercase Times New Roman-like font. The banner would be featured in opening sequences up to "Hare-um Scare-um".