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Original cover artist unknown; Frew Publications 1948. David Dell'oso's website is here.
The back-up story is "The Case of the Chemical Syndicate" by Bill Finger and Bob Kane from Detective #27. This is of course the first Batman story. Commissioner Gordon receives a call telling him that Old Lambert, the chemical king, has been murdered. Gordon leaves for the crime scene bringing his millionaire friend Bruce Wayne. The prime suspect is Lambert’s son, but the boy claims to have found his father stabbed. A telephone call from Steven Crane, one of Lambert’s partners, reveals that Lambert’s life had been threatened.
Crane is also murdered by two thugs, who also steal a contract. They are confronted by a masked man on a rooftop, the Batman. Batman dispatches the hoods in short order, recovering the contract which leads him to the laboratory of another of Lambert’s partners, Alfred Stryker.
Stryker is being visited by the final partner, Paul Rogers. Rogers is knocked out and nearly killed by Stryker’s assistant, Jennings. Batman arrives in time to save the man and stop Jennings. Stryker also tries to kill Rogers to protect himself from the knowledge that he made secret contracts with the partners for control of the Apex Chemical Corporation. Batman rescues Rogers again, and knocks Stryker into a vat of acid, killing him.
Edited by Julius Schwartz.