This Popeye cartoon opens with Popeye singing his theme song as he's building a rowboat, which he's using a LOT of nails for! He's interrupted when he hears Olive Oyl calling for help. He runs to the end of the dock his workshop is at, pulls a telescope out of his hat, and looks for her. Olive's floating down the river, surrounded by logs also going downstream! Popeye drops his telescope in the water (it's okay, it was starting to droop on him anyway) and rushes into his boathouse, but his boat doesn't have a bottom yet. Quickly, he puts glue on the bottom of the boat frame, then places it on the floor, where he cuts around the boat. Then he tries pushing the boat out, but it's too big for the doorway. Meanwhile, Olive continues to scream for help.
Popeye still tries to get the boat out, and failing to make it fit through the door, he grabs a hammer and knocks the ceiling and walls away before grabbing the boat and running it down the dock to the water. He rows after Olive, who's passed out over one of the logs. Popeye pulls her from the water and then uses her leg like a handle to pump the water out of her lungs. Olive revives, and tells Popeye that Pierre Bluto threw her in the water. Pierre Bluto runs a logging camp upstream, and he didn't like Olive's spinach. This makes Popeye mad, saying, "Anyone who doesn't like spinach is my emeny!" (no, that's not a typo, that's how he says it).
Popeye rows upstream, going right over logs in the way, rowing up the shoreline to the logging camp, where Bluto uses his whip to pull Olive out of the boat. Popeye pulls Olive away from Bluto, then pulls his cap down over his face before boinking him in the chin. Pierre Bluto gets mad, but Popeye blows smoke in his face. Popeye then sees a sign reading "Pierre Bluto champion lumberjack challenges all comers." Popeye can't resist a challenge, and says, "I'll do anything that you do!" And so it's on!
Bluto takes a huge axe and throws it at a tree, where it lands. Popeye throws a smaller axe, which not only lands in a tree, it cuts it in half! Bluto then climbs a tree to the top, branch by branch. Popeye does the same to another tree, one hand at a time. Bluto laughs, and pulls out an axe, chopping each branch off on his way down. Popeye starts sliding down the tree, punching away the branches as he goes! Bluto chops his tree down, pushing it over. Popeye starts punching sections out of the tree, one at a time.
Bluto then throws logs away, causing them to land in a stack by the slide to the river. Popeye grabs the root of a nearby tree, pulling the whole tree up (causing the branches to break off), then uses it as a bat to knock sections of logs to the slide, where they land and go to the river. Olive says Popeye beat the champ, but then Bluto knocks Popeye down the slide! Olive gets so mad at this she knocks Bluto after him! The two enemies end up on a log, and get to the river.
As they float down, each stands on a log, and Bluto punches Popeye into the water. As Popeye sinks, he pulls out his spinach and eats it! Surfacing, Popeye lands on a log behind Bluto's log, and as Bluto approaches, Popeye jumps up and down, causing his log to strike Bluto in the jaw and sending him to the front of his own log. This happens a couple of times, and then Popeye hits Bluto far downstream, where he hands with one foot each on two logs next to each other. The logs separate, causing Bluto to fall in the water, whereupon the logs come together to bean him in the head. Bluto gets up and it happens again.
Finally, Bluto picks up a log and starts running back to Popeye, but before he can hit Popeye with the log, Popeye punches Bluto again, sending him flying to a raft downstream (maybe Popeye built it while Bluto was away)? The log lands in pieces, forming a high chair, which Bluto lands in, crying like a baby. Popeye and Olive start feeding him spinach.
A fun cartoon, but the reliance on repeating some gags makes me wonder if it was originally running a bit short.