West of Tombstone (movie, 1942)

In this western, a community revives the legend of Billy the Kid after robbers attack a stage coach. The deputy marshal believes the Kid is dead and even goes to the cemetery to exhume his body. Unfortunately, the grave is empty and as the marshal ponders the mystery, a masked rider shoots at him. The eagle-eyed lawman recognizes the man's horse and realizes that he is a prominent businessman in town.