Blue Beetle must prevent Doctor Alchemy from infiltrating Kord, Inc. and stealing the precious radioactive element, promethium.
This book stars out with a battle between the Blue Beetle and Dr. Alchemy. Dr. Alchemy wins this battle by turning the ground under Beetle into paper. Then he fills a table with helium and floats away.
Down the hallway Angela Revere is checking out the damage that the Madmen gang has made to Kord Incorporated. She eventually stumbles on to Lt. Maxwell Fisher who is escorting one of the Madmen out of the building. He tell Angela to release two of the hostages and Angela's co-workers. She releases both of them one is Jeremiah Duncan and the other is Melody Case. As they assess the damage Melody steals some equipment by putting it in her purse.
Later Beetle changes into his alternate identity and gets back to his office just before Lt. Fisher walks in. Fisher lets him know that the Madmen have been taken to the slammer and he still thinks Ted Kord is somehow responsible for the death of Dan Garrett on Pago Island.
Meanwhile on Pago Island Dr. Conrad Carapax looks for something on the Island so important that Dan Garrett was willing to die for it.
In the modest apartment of Dr. Alchemy a.k.a. Alvin Desmond celebrates with a couple of beers for his victory over Blue Beetle. But he thinks about his weakness. He has power as long as he holds onto the promethium but if the Blue Beetle knocks it out of his hands then he is powerless. Somehow he must fix this situation.
In KORD Industries Ted and Melody Case clean up after the big mess that the Madmen had done to the lab. Ted asks Melody why she hasn't accepted his marriage proposal. She tells him kindly that she is just not ready for marriage. As she exits Jeremiah Duncan walks in and the two of them get chummy until Ted ask him if he is in some sort of trouble. Jeremiah gets upset and tell Ted that he can take care of himself.
Back at Dr. Alchemy's apartment Dr. Alchemy thinks he can absorb the power of his stone and be able to use his powers without having to hold on to the stone. When he tries to do it he is trilled when it works. Unfortunately for him the joy doesn't last. He is soon stricken with major pain. So much pain that he flees hi apartment to get help.
Back at KORD Industries Murray Takamoto and Tedd Kord are in a panic over the stolen promethium. Tedd tries to apologize for what has happened but admits he did all he could to protect it. They are both thrilled when Curt Calhoun tells them that Dr. Alchemy only stole a small piece of the promethium. The celebration doesn't last long when Angela comes in to tell Murray that S.T.A.R. Labs is under attack by Dr. Alchemy.
Moments later Ted is in the Beetle Nest changing into the Blue Beetle and takeing off for S.T.A.R. Labs.
Outside S.T.A.R. Labs Vic Sage reporter for WWB-TV and vigilante known as the question is reporting on the incident going on at S.T.A.R. Labs.
Inside S.T.A.R. Labs Dr. Alchemy is getting more powerful he is even changing people into lead, Sulphur, Gold, and Bronze. He can't control the power for much longer and is going to try to get an experimental ion generator to siphon off his power. Beetle is afrain he is going to turn the whole building into a smoking crater. They have a big battle and Beetle is successful in delaying him long enough until Dr. Alchemy himself turns into a philosopher stone.
After the battle Vic interviews Murray about the incident and the aftermath. Murray tells him what happened and that S.T.A.R. Labs is going to do everything they can to help the men who were transformed.
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