Our story begins with a flashback to a previously
unseen encounter between Spider-Man and Kraven the Hunter from a few months
prior. Turns out, the Green Goblin had promised to pay Kraven $20,000 to
eliminate Spider-Man. However, while Kraven is distracted by the Goblin
overseeing their bout, Spider-Man is able to escape. Kraven later demands of
the Goblin’s go-between that he get half of his money now, but Kraven is told
that he will only receive the full amount when the job is finished. Kraven then
follows the man back to his house, seeing that it is Norman Osborn, obviously
not realizing that Osborn is actually the Goblin. We then witness Kraven’s
previous defeat by Spider-Man yet again, from ASM #34, proving him to have been
unsuccessful.
Now in the present, Kraven is fresh out of prison and
believes that the Green Goblin still owes him for the time he spent in prison.
Kraven discovers from an old newspaper that the Goblin has apparently perished,
causing Kraven to lash out in fury. He blames Spider-Man and first decides to
get the money he needs from Norman Osborn, still thinking he was just the
Goblin’s flunky. We then cut to Aunt May, still getting settled into her new
living arrangement with Anna Watson. Just then, Mary Jane Watson stops by to
help with the unpacking but ends up getting distracted by dancing instead. Aunt
May phones Peter as he and Harry Osborn are getting ready for classes that day.
Just then, Harry’s father Norman Osborn stops by to tell Harry that he’s
heading out of town for a business appointment and Norman and Peter meet for
what Norman thinks is the first time, while Peter is glad that the Goblin is no
more.
Later on, Kraven arrives at Norman’s office demanding
to see him but is told he is going to be out of town. Kraven is convinced that
Osborn is evading him on purpose and, back at his hideout, tests out his
new vest lasers he designed to aid him against Spider-Man. We then cut to ESU,
where Gwen Stacy is being mobbed by guys wanting to know who’s taking her to
Flash’s party. Peter and Harry both flirt a bit with Gwen and Gwen tells Peter
that he’s free to invite Mary Jane. After classes, Spidey swings over to the
Daily Bugle and Peter decides to invite both Betty Brant and Ned Leeds to
Flash’s party as well. Peter then goes to sell his recent Shocker photos to
J. Jonah Jameson, who he finds on the phone with his son, John Jameson. Back with
Kraven, he storms his way into Osborn’s home, where Osborn’s butler confirms
that Osborn will indeed be out of town, causing Kraven to have to adjust his
plans.
Later, Peter and Harry finish getting ready for the
party and pick up both Gwen and Mary Jane. The party is in full swing when they
get there, and soon the man of the hour himself, Flash Thompson, arrives. Peter
and Mary Jane hit the dance floor, annoying Gwen, as Mary Jane was supposed to
help her hand out the burgers. Gwen takes the opportunity to dance up a storm
herself, as all eyes fall on her, causing MJ to now be the icy one. Just then,
Kraven smashes right through the wall, grabbing Harry and planning to use him
as bait to draw his father out. Flash futilely tries to stand up to Kraven and
Peter pretends to run off to phone the police. As Kraven tries to escape with
Harry, Spidey makes his appearance and goads Kraven into attacking him. They
begin an epic battle at the nearby construction site as the gang makes sure
Harry is okay and Betty and Ned phone Jameson to let him know the situation,
causing Jameson and Frederick Foswell to head there as well.
Back at the fight, Spidey dodges to get Kraven to fall
from a great height but Kraven easily flips around to save himself. We then see
that Norman Osborn has cut his trip short to head back to make sure his son is
okay. Spidey and Kraven continue their battle and just when it seems Spidey has
the upper hand, Kraven zaps Spidey with his new vest lasers, stunning Spidey
and allowing Kraven to paralyze him further with a nerve punch. Just then, Norman
Osborn arrives to check on his son and Kraven snares him, intending to collect
his money. Having no memory of being the Goblin, Osborn has no idea what Kraven
is talking about and Kraven is able to tell via his instincts that Osborn isn’t
lying. This causes Kraven to believe that Osborn is not the one he wants and he
escapes, having believed he has finally defeated Spider-Man. Spider-Man then
comes to and saves Osborn from falling. After switching back to Pete, he and
Flash have a civil farewell, as Flash ships out the next day, and Peter hopes
that he’ll make it back okay.