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At the start of this issue, Spider-Man is taking photos of Empire State University's head chancellor, a man called Edward Lansky, as he delivers a speech to the media about how the university needs money for its students. As Spider-Man takes the photos, Lansky is suddenly attacked by Spider-Man's foe Tarantula, who says that he's kidnapping Lansky. Spider-Man then attacks Tarantula, whilst Tarantula's henchmen kidnap Lansky and force him into their car. As they do so, Flash Thompson tries to stop them, but is knocked out for his efforts. Tarantula pretends to be knocked out before attacking Spider-Man when he gets closer. This slows down Spider-Man enough for Tarantula to escape. Spider-Man is then accused as being part of the kidnapping plot by the students, and escapes before they attack him. Unfortunately, upon checking his camera Spider-Man finds that it's fallen down and broken.
Returning to his apartment as Peter Parker, Peter is visited by Glory Grant, who tells him that she's looking for a job after her career as a model went bust. Mary Jane comes in a minute later, and the three then head to City Hall to ask about a job for Glory. Just before entering, Peter sees the same limousine which the Tarantula escaped in that morning pull up, and so goes off and changes to Spider-Man. Whilst he's doing that, a mysterious man in the car gives Tarantula his orders to kill the mayor, but to make it look like a kidnapping gone wrong. Spider-Man encounters the Tarantula and his men inside City Hall, but whilst Spider-Man takes out the Tarantula's henchmen, the Tarantula himself manages to get away and goes on his way to kill the mayor. Spider-Man is forced to rip open the door which the Tarantula escaped through and chase him, whilst hoping that he's not too late to save the mayor.
In his office, the mayor is complaining about how the city is nearly bankrupt and is trying to think of ways to make more money when the Tarantula bursts in. The mayor assumes that he wants money, but the Tarantula corrects him: he wants his life! Before he can complete his objective, Spider-Man bursts in right behind him, and tackles the Tarantula. The two then start a lengthy fight, whilst the mayor and his aide try to escape. As Spider-Man and Tarantula keep up their brawl, Spider-Man accidentally knocks the Tarantula so that they both fly out the window. In the confusion, the Tarantula is able to drag the mayor out with them, so that Spider-Man has to save him whilst the Tarantula escapes.