Irene is sent to get an interview with a Mr. Sterling, the owner of a steel mill (which happens to be manufacturing tanks) that has suffered from sabotage and the murder of its workers. Alan decides he should secretly tag along to keep her safe, and it's a good thing, as she is attacked while touring the mill. The man who attempted to kill her is killed by falling down stairs while grappling with GL, so cannot be questioned.
A worker, "Rock" Dawson, attempts to stir the others to quit, but GL beats him up for his trouble, then asks "Now... anybody else feel like quitting here?"--naturally, no one takes him up on the offer. One man says "I think it's a dandy place to work! Just dandy!" Yep, we can believe that.
The leader of the troublemakers decides to kidnap Irene to draw out GL. This works, and the men waiting in ambush knock him out with a rubber club and put him in a steel 'coffin', dropping him off a pier. Of course, a wooden coffin would have been more effective, and when GL revives, he quickly breaks free.
Having rescued Irene, GL heads to the mill to stop the leader--whose identity is unknown to his underlings--from attacking Sterling. He encounters trouble when he arrives, though: he has forgotten to touch his ring to the lamp in the last twenty-four hours, so he is as powerless as any man. Rather than letting this stop him, though, GL drives a tank through the doors of the mill and assaults the masked man with only his own native strength. This proves sufficient, and he is able to unmask the man to reveal--Harkiss, the stockholders' representative, rather than Straker, who had been trying to buy the mill.
GL throws Harkiss into a crucible, which "just about winds up Mr. Harkiss's evil career". He had duped his underlings into believing that he worked for a foreign power, and that they were helping to undermine the US, when in reality he was simply a greedy man who wished to purchase the mill for himself at a low price.