This comic was basically a Western title that featured the completely fictional adventures of a real-life actor. Westerns were a popular subject at the time, and several publishers, DC certainly among them, created titles centered around the actors that audiences associated with the genre.
Alan Ladd (1913-1964) was a Paramount film star. Curiously enough, up to the debut of this comic book, Ladd wasn't primarily known as a Western hero - he had largely made his name as a cool villain in various gangster roles. But the previous year he had starred in Whispering Smith, so perhaps DC felt they could capitalize on his star power in general, and recast him as a cowboy hero in this comic.
Ironically, a couple of years after the cancellation of this brief title, Ladd would become a Western star in the role for which he is now best remembered, as the noble gunfighter in 1953's Shane.