Aka New Frontier. A 1939 film starring John Wayne, Ray “Crash” Corrigan, Raymond Hatton, and Jennifer Jones. This was the last of eight Three Mesquiteers B-movies with Wayne (there were fifty-one altogether). The director was George Sherman.
The Three Mesquiteers convince a group of settlers to exchange their present property for some which, unbeknownst to our goodguys, is going to be worthless. They are captured before they can warn the ranchers.
William Colt MacDonald (characters), Betty Burbridge (story)
John Wayne, Ray Corrigan and Raymond Hatton