The vigilante Hangman is as dangerous as he is insane. And although he has pulled the wool over Brother Grimm’s eyes, he is no ally to Spider-Woman. Caught between Brother Grimm and this new masked menace, Jessica’s really in a state of crisis! Especially when Hangman captures Spider-Woman- all to ‘protect’ her, of course.
Spider-Woman contemplates her life. Spider-Woman's attention is drawn to a car collision, caused by Brother Grimm. Spider-Woman engages Brother Grimm in combat. Brother Grimm momentarily gains the upper hand, over Spider-Woman. By the time Spider-Woman recovers, Brother Grimm is gone. A thug, in the process of staging an accident to cover a murder, is interrupted by the Hangman. The Hangman has been investigating the disappearance of several jewelry merchants. The thug gives up Brother Grimm as the culprit behind the abductions. For his cooperation, the Hangman hangs the thug.Brother Grimm defends his actions, regarding a recent robbery at a playhouse.
Priscilla Dolly compliments Charles Magnus on his new appearance. Magnus introduces his "niece", Jessica Drew, to Dolly. Drew's presence at first puts Dolly ill at ease, but Magnus soothes Dolly. Dolly's sons, William and Jake, enter the dining room squabbling. The Dollys sit down to dinner with their new boarders, Magnus and Drew. Over dinner, Dolly remarks that Drew's father, Philip, was a past tenant. In fact, Jonathan Drew worked with Dolly's son, William, at Pyro-Technics. Drew presses William for more information regarding her father, but William is not forthcoming with any further details. Drew reveals that her father was murdered. She has come to Los Angeles to find her father's murderer.
Drew continues to press William, who excuses himself from the table. Drew follows William, as Spider-Woman. Congressman James Wyatt is on the phone, ordering the assassination of Spider-Woman, when his wife, Gloria, enters the room. Gloria is going out, for the night, without Congressman Wyatt. S.H.I.E.L.D. agent, Jerry Hunt, arrives in Los Angeles. Hunt is looking for Spider-Woman. At the airport, Hunt is picked up by Doctor Bill Foster. Spider-Woman follows William Dolly to Pyro-Technics. Inside the research facility, Spider-Woman is lured into, then sealed inside, a wind tunnel. The fan is turned on, drawing Spider-Woman into it.
The Hangman's investigation leads him to another kidnapped jewelry merchant. After murdering one of the crooks, the Hangman interrogates the other. Spider-Woman tears off a metal strut, from the wall, and jams it into the fan blade. A terrible notion enters Spider-Woman's mind, that Magnus may have set her up. Spider-Woman confronts William Dolly. Before she can interrogate him, Spider-Woman is attacked by Brother Grimm. Spider-Woman defends herself. Brother Grimm sets the room on fire. William Dolly flees. Spider-Woman grapples with Brother Grimm, only to be pulled off him by the Hangman.
The Hangman binds Spider-Woman. The Hangman reveals Brother Grimm's scheme. Brother Grimm has been kidnapping jewelry merchants, replacing their wares with counterfeit jewels, then releasing them. Brother Grimm, however, has kept the real jewels. The room is consumed in flames. The Hangman drags Spider-Woman out, while leaving Brother Grimm to burn to death. Viewing woman as a weaker sex that needs to be protected, the Hangman takes Spider-Woman to his dungeon. There, he will keep her "safe", for the rest of her life.