After dealing with the attack of 50-foot murderous toys, Superman works to keep Jimmy Olsen out of harm's way. But Jimmy's nose for trouble leads him straight to a reclusive toymaker named Winslow Schott.
Superman is fighting giant toys in Metropolis, including a toy soldier, doll and teddy bear. Because this is happening right outside the Daily Planet, Lois and Jimmy are out checking the scene. Jimmy is trying to get the best pictures he can and not worrying about the danger to his life. When Superman finally finishes, he spots a camera on top of a building some ways off. Before he can investigate who is responsible for the camera, it explodes.
The Toyman is impressed by Superman's vision.
Inside the Planet, Perry is ordering his staff to get on this story since it happened on their doorstep. Jimmy noticed something familiar during the battle and tries mentioning it to Perry. All Perry is concerned about is whether or not he got good shots of Superman. He tells him to get them developed right away and sends him off. Tired of being treated this way, Jimmy hands the camera over to Clark and leaves to take care of his own lead.
Jimmy is determined to prove that he's not just a "kid with a camera" and plans on finding out who was behind the toy attack. He also feels assured since he has his wrist watch from Superman. At the same time, Toyman watches the footage of the fight. He sees a point when all three of his creations stopped at the same time. He figures there must have been some sort of conflicting signal. This is strange since he only uses frequencies beyond the sonic range of machines in Metropolis. Unless someone has a "supercharged dog whistle."
Jimmy exits a cab across town. As he pays the driver, a kid runs by and steals his money. Upset, Jimmy signals the watch to teach the kid a lesson. Clark hears the signal and makes his move to leave. Perry is also looking for Clark so he can't let himself be seen leaving. He goes into a supply closet (that happens to have a window) and decides that might just be better than heading to the roof. As Superman arrives, Jimmy is embarrassed and tries to explain what happened. Superman simply flies off. As he leaves, he tells himself that if this happens one more time, he'll take the watch back.
Jimmy later does some research. He tries calling different toy manufacturers to see who could have made the giant toys (he didn't realize there were so many in Metropolis). Jimmy finally gets a lead and heads over to Winslow Schott's place. Toyman recognizes that Jimmy was there when Superman was fighting his toys. He allows Jimmy inside and apprehends him. He notices Jimmy trying to reach for his wristwatch. He also notices that it's an odd watch with no numbers or display except for one button. He knows better than to push it since that's obviously what Jimmy was trying to do. He figures he should check it out. He starts up a buzzsaw to assist in removing the watch from Jimmy's wrist...