- Valentine Villainy (Superman) -- 2. Clancy the Cop -- 3. Alias Mr. Sunshine (Vigilante) -- 4. The Weird and Eerie Mystery of Ghastly Gables (Super Sleuth McFooey) -- 5. Desert Danger (Congo Bill) -- 6. Mission for Freedom (Americommando) -- 7. Best in the House -- 8. Clancy the Cop -- 9. The Idol on the Island (Zatara)
Although Jimmy Olsen's first appearance is usually taken to be as the unnamed office boy in Action #6, this issue features the first Action story in which Jimmy Olsen appears as a named character. Also, the office boy in Action #6 is blond, while Jimmy in Action #71 has the trademark red hair. This isn't the first appearance of a named Jimmy Olsen, however, as he previously appeared on the Superman radio show in 1940 and then in Superman comic #13.
In this story, Jimmy is trying to win the heart of Betty Roxmore, daughter of the rich socialite Roxmores. However, Betty is currently the subject of Hugo Bayliss's attentions, and Hugo is a friend of Count D'Ort, so is favoured by Betty's parents. Betty's father is in a jewellery shop and after he buys a $1000 diamond necklace as a present for his wife, the "Count" turns out to be nothing more than a crook, and picks Roxmore's pocket, stealing the necklace.
Meanwhile, Clark plans to make a bid for Lois's attentions on Valentine's day by having Superman buy her some comically insulting presents, hoping to make Lois take less interest in Superman and more interest in Clark.
Jimmy, meanwhile, has bought Betty a vanity case and is riding his bike over to give his present to Betty. On the way, he has an accident on the bike, which causes him to crash into the Count and Lois, knocking them into the path of a speeding fire engine. Clark also happens to be coming out of the shop where he bought Superman's present for Lois and, seeing the impending accident, swiftly changes to Superman to save Lois and the Count.
In the confusion, the three gifts get mixed up, with Jimmy picking up Superman's insulting gift for Lois, the Count picking up Jimmy's vanity case, and Superman picking up Roxmore's diamond necklace.
As a result, when Superman gives Lois his gift, Lois is overjoyed at receiving a diamond necklace, while Betty is mortified to receive insulting gifts from Jimmy. The Count, meanwhile, was hoping that he could sell Roxmore's diamonds, but ends up with a cheap vanity case. When the Count discovers the necklace is missing, he and some mobsters believe that Jimmy stole the diamonds, so they set out to capture him. Meanwhile, Roxmore also believes that Jimmy is the thief and he calls the police, who show up at the Planet to arrest Jimmy. While running from the police, Jimmy and Lois stumble in the mobsters who are posing as policemen, and they get taken to an underground lair.
That evening, at a party at Roxmore's mansion, the Count is caught stealing some money from the guests. To cover his escape, he sets fire to the mansion, but Superman shows up and captures him. Superman then discovers Jimmy and Lois tied up in the basement and guarded by thugs. Moving at super-speed, Superman makes Jimmy believe that he escapes and captures the thugs single-handed. The confusion with the packages is sorted out, and Jimmy gets Betty after all. Clark, however, can't bear to see Lois disappointed by not getting Superman's diamond necklace, so spends all his savings to buy another one for her.