Camden Stone, a mobster, is the son of Liam Stone, who ran the family before him. Camden took over in 1939. He spent a few years in jail for some minor crimes.
In 1960s Chicago, the C.O.W.L. superhero union has jurisdiction over all supervillain crimes, and the Chicago Police have jurisdiction over crimes by normal humans. Stone is suspected by C.O.W.L. of using super-powered criminals, but doesn't let them wear costumes, so C.O.W.L. can't do anything about it.
Major Story Arcs
C.O.W.L. patrolmen Grant Marlow and Eclipse run into a Stone enforcer, Michael, and realize he does in fact have powers. Even though he isn't wearing a costume, Marlow goes after him anyway, and after being beaten nearly to death, kills the criminal. This causes huge tensions between the police, the superhero union, and Stone.
Meanwhile, C.O.W.L. defeats the last of the Chicago Six, the most high-profile supervillains in the city, and the city wants to renegotiate their contract since the mayor thinks they're no longer needed. The union plans to go on strike to protest.
However, C.O.W.L. members Radia and Eclipse, tired of the politics, start to go after Stone regardless of jurisdiction and the contract dispute. They bust up one of his casinos, telekinetically stick him to the ceiling, and tell him to either quit using super-powered criminals, or at least have the guts to have them wear costumes so the union can go after them. Stone doesn't seem to be impressed.
With the strike now on, Radia and Eclipse go undercover, wearing masks of their own as they bust up more of Stone's joints, and take on another of his powered goons, Jim Macauley.
With the city pressuring the union, C.O.W.L. boss Geoffrey Warner makes a deal with Stone: put costumes on his criminals to make it seem like there's still a reason for the union to exist, so they can get back their contract with the city. In return, Warner needs to pay him, and also stop Radia and Eclipse from messing up Stone's racket.
Stone fulfills his part of the bargain, hiring Doppler to rob a store and then kidnap Alderman Hayes, and some other unnamed villains to commit other crimes. He seems more clear-headed on the situation than Warner, wondering what C.O.W.L. will do once Stone stops artificially creating costumed crime after they get their contract.
Eclipse bows under pressure from Warner, and Radia stops harassing Stone directly, but she gets fed up with the system and stops Doppler regardless of jurisdiction and the strike. Now Stone is really annoyed with her. He tells Warner to kill Radia if he doesn't want Stone to go public about their deal, and Warner reluctantly agrees.
Meanwhile, the union gets their contract renewed due to Stone's goons. Grant Marlow is fired, due to breaking the rules in stopping Stone's muscle, Michael, back in the beginning, presumably due to Warner's manipulation on Stone's behalf. Radia quits due to her frustration with the union.
With the contract deal with, Warner visits Stone in secret. Warner continues to cross lines he always held sacred, and shoots and kills both Stone and a prostitute to keep Stone from telling about their deal, and for asking him to kill Radia.