Tracy and Catchem investigate the murder of a counterfeiter and trace the engraving plates to the lair of a hoodlum known only as 'The Mole'.

While the Mole hires a crook to run his counterfeit operation, Tracy draws his net around the operation... and the Mole orders him to be killed.

The Mole brings in Wheels to operate the printing press and produce counterfeit bills, but Wheels switches the plates with two blanks and takes off.

When Petty crook Joker tries to burn out Mole's sensitive eyes so he can steal the plates, Mole retaliates by trying to kill Joker at his magic shop.

Crime kingpin Namgib hires thug Flattop to kill Tracy for $10,000.

Tracy and Catchem investigate a series of car thefts and discover a gang who specialize in changing the appearance and serial numbers of the vehicles they've stolen.