Columbia's 14th serial (between "White Eagle" and "The Iron Claw") and the second serial based upon the character in the pulp magazine from Popular Publications "The Spider Magazine." Some sources, evidently based on their knowledge that L. Ron Hubbard and Norvell Page wrote stories for that magazine, have incorrectly credited them as being writers of this serial. The only serial that L. Ron Hubbard wrote was 1938's "The Secret of Treasure Island" filmed by Columbia, and the only connection Page has is that he wrote stories about the character in the magazine. Chapter One, "The Stolen Plans", has a gang of saboteurs, led by The Gargoyle, a mysterious and powerful agent for an unnamed country, playing havoc with National Defense projects. Socialite Richard Wentworth (Warren Hull), alias the Spider, returns to continue his crusade against the underworld. Wentworth calls a meeting of the nation's biggest business men, but the Gargoyle's men disrupt it with a tear-gas bomb.