Though only the second half survives, here's a synopsis of what's left: Stan is a Robin Hood-type character in a medieval walled town. He's chased by an army of knights, but both he and his pursuers ride music-hall half-horse costumes in lieu of real steads. He proceeds to fight, Fairbanks-like, dozens of swordsmen at once, and defeats his rival one-on-one, leaving him to marry the princess in a state ceremony.
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