During the Great Depression, a brutal railroad conductor named Shack is infamous for his harsh treatment of hobos who attempt to hitch rides on his trains. Shack prides himself on running his train with an iron fist and has never allowed a hobo to ride for free. On the other side, seasoned and fearless hobo, A No. 1, takes it as a personal challenge to board Shack's train and ride it all the way to Portland. The film sets up a tense battle of wits and wills between these two determined characters, each representing a different aspect of survival amid the harsh economic landscape.

A young and brash hobo named Cigaret also emerges, eager to prove himself by riding the train and joining A No. 1 in his challenge. The dynamics among the three characters set the stage for an intense journey through danger, strategy, and survival. The narrative explores themes of freedom versus control, and the honor code among hobos against Shack's merciless authority. The film emphasizes their pursuit of respect and dominance in an unforgiving world, leading to a high-stakes confrontation that tests the limits of endurance and ingenuity.