The Cobra eludes two policemen and steals a drawer full of jewels from their precinct’s properties room, escaping down a drainage pipe and coming up in a Central Park West apartment that he got blackmailing a corrupt, corporate financier. In his Chelsea apartment, Peter tries on one of his two new Spidey suits before heading across town. On the same site in which the Juggernaut was entombed in concrete, a hulking figure vows revenge on “that little nuisance.” At the Bugle, JJJ has Ned Leeds investigate the Brand Corporation whom he suspects was behind Killer Shrike’s kidnapping of Marla Madison. Betty finds Ned’s notebook and learns of his Maxie’s Bar meeting with informant Nose Norton. Worried, she calls Peter who leaves lab partner Roger Hochberg and their successful “Parker-Hochberg process” to check out Maxie’s bar. He arrives to find the Cobra, worried that Nose is selling him out, attacking Ned, Marla and “Nose.” Cobra fires venom darts at Nose that are intercepted by Ned. The darts strike his interview tape recorder, saving his life. Spidey captures the Cobra, promising to meet Ned and Marla at the nearest police precinct. On his way, someone throws a large chunk of building at him. He evades it but sprains his ankle. The attacker, the hulking figure from the construction site, appears. Not Juggernaut, but Mr. Hyde, Cobra’s former partner. He demands Spidey give him his “traitorous” former ally.