As this issue opens, we find Peter Parker trying to dodge his Aunt May's inquiries about accepting a blind date with Anna Watson's niece Mary Jane. Deciding he needs some air, Parker steps out and dons his Spider-Man duds. He finds action when four robbers attempt to silence a blind man they feel could identify their voices to the police. After webbing up the robbers and taking off, we learn that the blind man is Matt Murdock, a.k.a. Daredevil.
Returning to his law practice, Murdock is invited to the next evening's circus by his co-worker Foggy Nelson. Meanwhile, the corrupt members of the circus are hoping to draw a bigger crowd to their festivities by falsely advertising an appearance by Spider-Man. Peter happens across one of the advertisements and decides that maybe Spidey should put in a guest spot (after all, the poster ad does say proceeds will benefit charity).
As the circus performers go through their routine that night, the crowd becomes more and more anxious for the arrival of Spider-Man. Much to the surprise of the circus performers - and the delight of the crowd - Spidey does arrive on the scene and performs quite an acrobatic spectacle for the adoring spectators. As he's finishing his routine, the Ringmaster comes out and uses a hypnotic top hat to put both Spider-Man and the audience into a trance. It had been the circus performers' devious plan to rob the crowd of their valuables all along. The only person in the crowd not affected by the top hat was, naturally (due to his blindness), attorney Matt Murdock.
Switching into his Daredevil outfit, Murdock tries to put an end to the Ringmaster's dastardly deeds...only to find the Ringmaster using a hypnotized Spider-Man as his bodyguard. After tussling with the web-slinger, Daredevil frees the hypnotic top hat from the Ringmaster's clutches and uses it to reverse Spidey's trance. Once awakened, Spider-Man joins Daredevil in the battle against the circus goons.
Before the wall-crawler completely disposes of the performers, Daredevil leaves the fracas and changes back into his normal attire, rejoining the crowd before Spider-Man uses the top hat to break the Ringmaster's spell.