Episode 1: "The Bank Mystery" Mr. Carlow, a wealthy American living in London, is engaged to Lady Gwendolin, and has ordered from Arabin and Company, famous Fifth Avenue jewelers, a necklace worth two million dollars, to be made for her wedding present. She is anxious to see it, and he sends the junior partner of his London solicitors, Wade Hildreth, to America to get the jewel. He cables the young attorney's personal description to Arabin, and gives Wade his certified check for two million dollars. Wade makes ready to go with his secretary. Jean Marco. In New York is a master criminal known as the Gray Ghost. So perfect is his organization that he is never even suspected of the crimes and robberies which follow each other in quick succession. Only one member of the detective force really believes in his identity. This is Jerry Tyron. The Gray Ghost intercepts the message from Arabin. He prepares a reception for Hildreth, for he wishes to get the necklace and the check. Banker Olmstead is at dinner with his wife and son who is employed in the bank with him. His father is anxious that the books shall be in order, as the auditor is coming to examine them. He decides to go down to the bank. Young Olmstead is in the power of the Gray Ghost, to whom he has lost at cards. He goes to him to say that the game is up, and asks for mercy. Instead of helping him, the man plans to get him further into his power. Morn Light, a musical comedy star, whose connection with the Ghost is mysterious, arrives during their discussion. The Ghost asks her to retire, but she listens and watches. She sees the Ghost's men strike down Olmstead, and demands to know what is to be done with him. The Ghost tells her to mind her own business, and she is very angry. He sends her home. Olmstead has arrived at the bank and ordered the vault to be opened. The watchman is in the pay of the Ghost. Olmstead discovers his son's thefts from the bank. Suddenly he is shot down. It is the Ghost's men who have been introduced into the vault by the watchman. The men appear, carrying the boy. They place a revolver in his hand, and leave him lying upon his father's body. He comes to, and the watchman tells him that he has shot his father, and that the police are after him. He cannot believe it, but an officer rushes in and drags him out. In the car the officer changes his clothes to civilian attire, and when Olmstead demands to know what it means he is silenced. The Gray Ghost waits till one o'clock, and then he calls up Tyron and tells him that the bank has been robbed. Tyron sets out at once with a large force of police. They arrive at the bank, and find the unconscious watchman. The body of the banker has disappeared.