Dickson, a tenant of Count Avenel, learns from the English officer George Brown that the wicked steward of the estate, Gaveston, plans to buy the late Count's castle and title. The property is supposed to go to the Avenel's son, Julien, but he is missing. Dickson's wife Jenny sings the ballad of the White Lady, guardian spirit of the Avenels, who now summons Dickson to the castle. Dickson is too scared to obey so Brown offers to go in his place. In the castle Anna, orphan ward of the Avenels & childhood sweetheart of Julien, disguised as the White Lady, meets Brown, whom she recognizes as a wounded soldier she had once tended and who reminds her of the lost Julien. At auction Brown outbids Gaveston but does not in fact have the money. However, Anna now realizes that Brown is in fact the long-lost Julien. She and the old maid, Marguerite, discover the wealth of the Avenels stashed in the statue of the White Lady. At the strike of 12 noon, the White Lady appears with a treasure-chest. Thwarted, Gaveston tears off her veil in rage to expose Anna, who then reveals Brown's true identity as Julien. Julien and Anna are happily reunited.