The gang loves old Richard Cummings and his horse. Together they run what seems to be the last horse cab in town. But Cummings has a note coming due, which he may have to sell the horse to pay, and a new, motorized taxi cab is coming into direct competition. Fortunately the gang wants to help out, with typically disastrous results.
It's another of the Our Gang shorts in which the kids express their affinity for old people and animals. When the series was first conceived, it was going to be about the kids and their animals. The latter part got sorted into the weird Dippy-Doo-Dads series that lasted a couple of years.
It's a typically delightful short, with a lot of extended sight gags as Joe Cobb runs the taxi business while Cummings is busy trying to raise money, and Wheezer keeps saying he wants to do something, and being told off.... and going to do it.