Beaver, Larry, and Whitey are talking about the new kid who live across from Beaver and carries a briefcase. He has made it to their goofy kid list. Ward and June encourage Beaver to go across the street and meet the new kid. When Beaver talks to him, he claims he's training for the 1968 Olympics and at his old school, Irvington, all the people were millionaires. And that's just the start. Gilbert's father works for the FBI; and Gilbert was on an expedition to the North Pole Gilbert is the only nine-year old Eagle Scout in the whole USA; and his brother plays pro baseball. Wally tries to disabuse Beaver of these stories but Beaver won't listen. Wally even shows Beaver the baseball records book and there are no Gates listed anywhere. Beaver says Wally is just jealous because Gilbert is his friend. Besides, Beaver is going to the movies will Gilbert, Gilbert gets to see all the movies early because his father is friends with Burt Lancaster, but he is still going with Beaver.
Larry shows up to see if Beaver wants to go to the movies with him and Whitey, Beaver says he isn't going anywhere with big dumb kid Larry. At 2:30 June asks why Beaver is still home. He's waiting for Gilbert, and Gilbert is going to wear the jacket his uncle the stunt pilot gave him. But Gilbert never shows up, and when Beaver calls Gilbert, Gilbert's mother says Gilbert went to the movies with two other kids. Perhaps, Beaver has been had? June is upset because Beaver was stiffed because Gilbert stood him up. Ward says Beaver did make too much of Gilbert. Wally can't believe Beaver hung around all day waiting for a call from Gilbert. When Beaver looks out the window there are Larry and Whitey playing football with Gilbert. June is upset at Gilbert for taking away Beaver's pride and now he's taking away his friends. June is ready to call Gilbert's mother. Ward suggests Beaver go across the street and act like nothing has happened. When Beaver goes across the street, Gilbert is running the guys to his tune. Things don't go well for Beaver; all the kids gang up on Beaver who is now in tears. Beaver wants Wally to go across the street and sock Gilbert and then Whitey and Larry. June is "comforting" her poor baby when Ward asks to speak to Beaver alone. Ward tells Beaver he has to make a decision, let his parents handle the problem or handle it himself. As Beaver leaves, June comes rushing back in telling Ward he can't let Beaver go across the street, he might pick a fight. Wards says he can't understand where June would get such an idea. Beaver calls Gilbert over, he wants to show him something. Beaver goes across the street and starts pounding on Gilbert.
June urges Ward to run out and stop the fight. Ward intends to stop it but he's walking out not running. Both Ward and John Gates arrive at the same time and stop the fight. John Gates asks Ward what stories has Gilbert spread now. The adults discuss the problem of Gilbert's fabrications. Because John is a professional flute player and that the Gates have moved multiple times, Gilbert's way of acting—bragging and showing off—are what he does to make up for being the new kid in school all the time.
Ward talks with Beaver and explains since Gilbert moves a lot he never had any real friends, so he makes up a lot of stuff to make kids interested in him. Ward urges Beaver to just try and treat Gilbert as one of the guys. June hopes that Beaver will understand. Ward thinks he will, plus Ward feels Beaver is too immature to become a bully. June says Wally and Beaver actually thought Ward would get into a fight with Mr. Gates. Ward says he's too mature for that but still, Ward says with some admiration, that Beaver really had that kid on the ground and was giving it to him. June frowns.
Wally is putting some Mercurochrome on Beaver's face where he has some cuts and bruises. Wally suggests maybe Gilbert isn't too bad. Beaver says he figures he knows why Gilbert lied. It like when Beaver went to camp and said he could swim when he couldn't.
A good episode for all those new kids out there. But I don't remember anyone from my youth who spun such fantasies.
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