The issue opens with Spider-Man hurtling on a web with fantastic speed through the city. He ignores pedestrians, and swings right past a battle between criminals and the police (the criminals surrendered as soon as they saw hm, and were dejected to learn he would pass by anyway). It turned out that he was rushing to get Aunt May's medicine-as she was very sick. Feeling sorry and musing over what she had done for him, Peter sat her room and guarded as she slept. As Peter was watching Aunt May, a new criminal came out on the streets.He was wearing a green-and-gold costume and seemed to be able to fire lightning bolts. After the villain, who was Electro, was charged fully from a generator, he goes out and stops an armored car. He disarms the men easily and takes the car's cargo-gold. Peter is oblivious to this knowledge, as his aunt's sickness gets so bad she is rushed to the hospital. He is distracted and zoned out all day, worrying. He even ignores a friendly effort by his rival Flash Thompson. He visited Aunt May in the hospital right before a surgery she needs, and is surprised to see that Betty Brant is visiting with May. After they leave, Peter quickly leaves Betty and changes into Spider-Man. Betty suspects that Peter "carries a deep secret within him-one which no one can ever share."(Frighteningly accurate). Peter needs money for May's operation-so he goes out to take some pictures. Unfortunately, it rains, so he is forced to spend the night inside worrying. The next day, J. Jonah Jameson is at a bank before being attacked by Electro. Electro easily disarms Jameson and the bank worker before stealing a fortune and escaping up the side of a building (electromagnetic power). He knew who Jameson was-which gave JJ a clue. JJ deduced that the only person that knew him, could climb walls, and was very powerful and confident - Spider-Man. The headline of the Daily Bugle the next day is, " Electro is Really Spider-Man!" It becomes a huge controversy in Manhattan-is Spidey actually a criminal? This adds more trouble for Peter, who continues to wait and constantly visit the hospital. The doctor informs him that although the operation is ready, Peter will need a thousand dollars to pay. Peter agrees-he'll get the money somehow and his aunt needs the operation. However, JJJ just laughs when Peter asks him for a loan, making a deal. If Peter can bring photographic proof that Spider-Man is Electro, he'll pay the K. This gives Spider-Man an idea-capture Electro and he'll have the money. After much searching, he finds Electro about to go to his hideout after a crime spree. But Electro detects him, and Peter makes the mistake of touching a powered Electro. This knocks him out, and Electro escapes. When Spidey comes to, he uses the pictures he snapped of Electro and superimposes his image on a few-making it look as if he caught Electro turning into Spider-Man. He gives them to JJ - who prints it and pays Peter. Peter resolves to somehow make it up for cheating. The next day, the Bugle posts Peter's fake pics. Electro's origin is then revealed. Electro was a man, Max Dillon, who was the lineman for an electric company. When holding two live wires, a lightning bolt struck the pole he was on. Somehow, instead of killing him, it gave him amazing power as Electro. Electro goes out that night and breaks into a prison, trying to get some lackeys. He holds off the cops. When Peter sees, he's about to turn into Spider-Man to help, but Aunt May asks him to stay by her-so he can't leave. He waits, hoping she'll get better, and Betty Brant waits with him. Spider-Man's absence during the crime is used as more evidence by JJ that they are one and the same. The criminals escape-but instead of listening to Electro and becoming his followers, they try to escape on their own and are busted by the cops. Aunt May's operation is a success-too-and Peter goes out for pics of Electro. Betty chastises him for enjoying danger, though. Peter leaves, changes into Spider-Man, and buys rubbers and rubber gloves (which blocks electricity). He finds Electro (ruining JJ's scheme, as both are proved to be separate). He and Electro (plus the remaining lackeys) fight, and Spider-Man easily defeats them-foiling Electro at every turn. Finally, Electro makes a lasso of electricity and spins it closer and closer to Spidey. But Spider-Man sees a water hose and drenches Electro, short-circuiting him. He also managed to take action shots of Electro and Spider-Man fighting-which makes JJ forgive him quite easily for the fakes. He finally resolves things with Betty, too, and feelings of romance grow between the two as the issue ends.