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After being sent to jail in Issue #2, the Vulture has been a model prisoner. He has been allowed to use the machine shop in the prison where he has secretly been working on making a new makeshift flying harness. When it is complete, he simply flies over the prison wall while out in the exercise yard.
When Peter Parker hears about the escape, he has to make an excuse to leave during volley ball practice. This causes Flash Thompson and others to give him a hard time. Peter quickly heads home to change into Spider-Man. He brings his anti-magnetic inverter that he used against the Vulture in their last encounter. Little does he realize that the Vulture has modified his wings to fly better and not be affected by the inverter. Vulture robs a jeweler and is spotted by Spider-Man. He fakes falling when Spidey uses the inverter and then gives him a sucker-punch. The punch causes Spider-Man to fall and sprain his arm. Peter now has to make excuses to his classmates and Betty as to how he sprained his arm. He tries selling pictures of the Vulture to J. Jonah Jameson when the Vulture arrives to steal the Bugle's payroll. As Jameson does his best to talk the Vulture out of stealing from him, Peter ducks out to change into Spider-Man. Spider-Man arrives as Jameson and the Vulture are still arguing. Spider-Man and the Vulture begin fighting in the office and make a mess much to Jameson's chagrin. With his arm still hurting, he lets the Vulture carry him high in the air. Spider-Man then webs the Vulture's wings so that he is unable to fly. As they begin falling, the Vulture begs Spider-Man to save them. At the last moment, Spidey makes a web parachute that allows them to safely glid down to the police waiting below. Spider-Man returns to the Bugle and finds that Jameson holds him responsible for the mess and damage in the office. Annoyed, Spider-Man webs Jameson's mouth shut and leaves. Peter and Betty are then allowed to enjoy a peaceful afternoon as Jameson huffs around the office in silence, waiting for the webbing to dissolve.