The nefarious Vulture traps Jameson inside of a tower-clock and uses the well-informed Daily Bugle publisher as a source of information on the whereabouts of a visiting diamond merchant and the testing of military equipment- two prospective heists for the greedy bird-man.Life-like and substantial shadows of beasts are projected in various locations in New York City by the Phantom's new Shadow-Scope glasses to cause panic and enable the Phantom to effect unconstrained bank and jewelry store robberies.

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