Action Comics #91

1. The Ghost Drum (Superman) -- 2. The Sunshine Swindle (Hayfoot Henry) -- 3. Scuffy, the Tramp -- 4. The Underground School (Congo Bill) -- 5. Freedom's Light -- 6. The Fiddler's Jam Session (Vigilante) -- 7. One Man Show (Zatara)

Cover: Superman hits the barrel of an anti aircraft gun so the bullet fires back at the foes. 

Superman: A  number of Great Lakes freighters have been disappearing, and as each is lost, a distant drum beats a number of times equal to the crew on the ship. The beat of a drum sounding the death of a ship is an old Indian legend, so those who make the Great Lakes run are understandably spooked. 
When Clark gets a few days off from the Planet, he decides to investigate as Superman. Landing on one of the freighters about to enter Lake Superior, Superman overhears the radio operator sending a message to "Davey Jones" warning of Superman's involvement. Flying off to scout round the area, Superman discovers a helicopter dropping bombs on the Soo Locks. He disposes of the bombs and captures the helicopter (called an 'autogyro' in the comic, as the word 'helicopter' was not then in common use) crew. 
Back on the freighter, the captain has heard news of the attempting bombing of the locks and wants to abort his journey, but Superman won't hear of it, and carries the freighter into Lake Superior himself. When the criminals spot the freighter they send out another helicopter to drop sleeping gas canisters onto the ship to knock out everyone on board so they can capture the ship. Superman pretends to be affected by the gas so he can find out what the criminals are up to. 
When the criminals board the freighter, their scheme is revealed - they are capturing and sinking freighters in shallow water so they can return later, salvage the ships and make a fortune selling their contents. The "Indian drum" effect is produced by a bank of anti-aircraft cannons hidden in the forest, and is provided to scare the locals. 
The criminals lock Superman in a steel compartment on board and then sink the freighter. When Superman knows the full scheme, he breaks out of the sunken ship, takes care of the criminal gang, then salvages all the ships himself and delivers them to their destinations.