Our story opens with Kraven the Hunter perusing his
trophy room of all of the wild beasts that he’s successfully hunted. However,
Kraven the not satisfied, as his greatest prey, Spider-Man, has still eluded
him. Kraven takes one of his special potions, to increase his physical
attributes, hungry for a challenge. Kraven heads outside where he encounters a
wild lion and quickly and ferociously humbles the beast. Kraven then makes
preparations to return to America to find Spider-Man. We then cut to a startling
scene, as Betty Brant seemingly asks Peter what big secret he’s been hiding from
her. Peter climbs to the ceiling and reveals that he’s also Spider-Man, to
Betty’s dismay! Betty then awakens with a start, the encounter having all been
a dream. Betty refuses to believe that could be Peter’s secret but concludes
that she needs to make a decision, one way or the other.
Meanwhile Peter revels in being able to actually get
some studying done, now that Aunt May is out of danger. Peter stops by the
hospital where he finds that Aunt May’s friend Anna Watson is visiting, before
the doctor tells them the good news that Aunt May can go home! Mrs. Watson
offers to take May home, while Peter heads to ESU. There, we find Gwen Stacy
being mobbed by tons of guys, all itching to see who she’s going to the game
with. Gwen ponders how Peter is only guy who hasn’t paid her any attention when
she drops a book, just as Peter arrives. Peter offers to help her but Gwen
rebuffs him, as Harry Osborn tells Peter flat out how unpopular he is. Peter
realizes how much he was ignoring his classmates when Aunt May was sick, but
decides he’ll just wait for them to get over it, as he catches up on his
schoolwork. Peter and Gwen are both intrigued by the other, but for now, things
are at an impasse.
On his way home, Peter suddenly hears sirens and goes
to change to Spider-Man. However, Peter decides the police can handle it, as he
needs to study and look after Aunt May anyway. We then cut to Kraven, now back
in America, as he holes up in the Chameleon’s old hideout. Kraven ponders how
to best hunt Spider-Man, deciding to use just the right bait to lure him out.
We then see J. Jonah Jameson hailing a cab, when he’s suddenly surprised by
Spider-Man! Spider-Man claims he just wants to talk but Jameson freaks out,
attracting a crowd as Spider-Man promises he'll be back! We then discover that
it was really Kraven disguised as Spider-Man, knowing this little act is sure
to draw the real one out! Back at home, Peter is shocked to see the reports of
Spider-Man attacking Jameson, but decides to wait and see what happens, as he
doesn’t want to leave Aunt May while she still recuperating.
Over the following days, Kraven, dressed as
Spider-Man, continues to hound Jameson. With the public's impression of
Spider-Man worsened once again, Peter decides he needs to take action. When
Anna Watson stops by to see Aunt May, Peter takes the opportunity to go out as
Spider-Man. Spidey heads in the direction of the Daily Bugle and quickly finds
the phony Spider-Man, giving chase. Spider-Man lands on an old, abandoned
building, as a bunch of goons notice from the street and decide to ambush him.
Kraven reveals himself as the imposter, before spraying Spider-Man with a
jungle scent, in order to dull his spider-sense. Kraven offers Spider-Man the
chance for them to stalk each other in a worthy fight, agreeing to surrender
himself as the imposter if he loses. Kraven heads into the building, as Spidey
chases after him, narrowly avoiding a waiting booby trap!
Spider-Man continues to avoid Kraven’s traps, when his
spider-sense alerts him to two of the goons, planning to ambush Spidey. Spidey
quickly takes care of them, before webbing up several others. He then makes his
way further into the building, as he’s suddenly grabbed by Kraven, as the two
begin to trade blows. Just then, more of the goons show up, with Spidey and
Kraven heading opposite directions, each dealing with some of them. Spidey and
Kraven then search for each other once more, as Kraven spots Spidey perched on a
wall. He then distracts Spider-Man with a thrown brick, before leaping on him
from above! Kraven swings the two back into the building, where they continue
their fight.
After a furious battle with the elusive Kraven, Spidey
finally lands some good solid hits, taking out the Hunter, leaving him and the
goons for the police. Kraven, a man of honor, admits to being the one stalking
Jameson, as Frederick Foswell delivers that bad news to Jameson. We then see
that a new secretary has replaced Betty at the Bugle, after she mysteriously
left! The issue ends with Peter, despondent over the situation with Betty,
deciding that he’ll just need to forget about her, as he can’t give up being
Spider-Man!