Since the Flash will be leaving the JSA, the other members give him a farewell dinner. Johnny Thunder arrives, insisting that they make him a member to replace the Flash, so they send him on a wild goose chase as a 'test'--to capture "Killer McPanzee", a harmless old man who prints fake newspaper headlines about himself going on a killing spree.
Unfortunately, a gang of counterfeiters headed by Easy Eddie has the idea of using McPanzee as a front-man, and they capture Johnny as soon as he arrives, put him in a sack, and throw him into the river. Fortunately, Johnny is able to use his thunderbolt to let Flash know his situation and prevent himself from drowning until he's rescued.
The Flash stops the counterfeiters by burying them under a pile of money, but when he gets to the river, Johnny is gone. Johnny finally thinks to wish himself out of the water, only to stumble onto Inza Cramer being menaced. He calls in Doctor Fate, but by the time Fate has finished dealing with the gang of robbers disguised as mechanics, Johnny has disappeared again.
Johnny finds himself apparently among skeletons at a graveyard and calls for the Sandman to help him. Sandman finds him among some actors putting on a horror show, then goes off to bust up a gang running a protection racket that was threatening the actors. By the time he gets back, Johnny has gone.
Next, Hourman stops an ex-museum-watchman who robs a theater dressed as a gorilla.
The Atom busts up a den of cheating gamblers.
The Spectre stops a mad scientist who had discovered a means of removing mens' heads and implanting in them a mechanism that granted him control over them.
Green Lantern stops a hi-jacking racket headed by Fruity Leman.
Finally, Hawkman rescues Shiera from a group of kidnappers on a boat (owned by "The Kidnappers Klub, Inc."!) which Johnny has coincidentally landed on.
In the end, Hawkman opines that anybody with Johnny's luck ought to be a member of the JSA, and the others agree.