We start off our story by finding Peter Parker at
Midtown High, where he’s approached by Principal Davis. Principal Davis tells
Peter that Flash explained how Peter wasn’t to blame for their fight from last
issue, leaving Peter feeling grateful. Peter then runs into Liz Allan, who is
still giving him the cold shoulder, leaving Peter feeling confused. Peter then
tries to thank Flash Thompson for coming clean to Principal Davis but gets the
usual sour treatment from Flash. Peter and his class are excused from school
early, due to their upcoming graduation, as Peter notices that Liz is also
still angry at Flash. Peter then heads over to the home of Spencer Smythe, who
Peter learned last issue has his original Spider-Man costume. Peter stops in
and feigns curiosity about Smythe’s experiments. Smythe leads Peter in when the
robot used to attack Peter in issue #25 suddenly traps Peter with its tendrils.
Peter then shows the jar of spiders he brought along, in order to divert
Smythe’s suspicions, as Smythe frees him.
The doorbell then rings and when Smythe goes to answer
it, Peter takes the opportunity to swap his original Spider-Man costume with
the cheap store bought one he brought along. Just then, Peter witnesses Smythe
being attacked by his business partner, Mark Raxton. Raxton grabs the liquid
metal alloy the two had been working on, in order to sell it and get what he
thinks is his rightful share, before knocking Smythe into his control panel!
Before Peter can intervene, he’s once again caught by the robot’s tendrils,
after having been turned back on when Smythe knocked into the controls. Smythe
and Raxton continue to struggle and the container holding the liquid metal
breaks, bathing Raxton in the liquid metal! Raxton is stunned by his new
golden, metallic skin and walks out in a daze. Peter is then able to hit the
control switch with a web shot, freeing him just before Smythe comes to, as
Smythe mourns the loss of his work.
Still in a daze, Raxton steps into the street, getting
honked at by a driver. He retaliates by smashing the front of the guy’s car,
realizing that the accident has given him super strength! He revels in his
newfound power, smashing up more things, and decides to call himself the
Molten Man! Spider-Man, on his way to Raxton’s apartment after being informed by
Smythe, swings by the path of destruction, wondering if Raxton is the cause.
Molten Man makes it back to his apartment by sticking to the shadows, where he
is soon intercepted by Spider-Man! Molten Man attacks Spidey, who deftly avoids
his blows and tries flipping over Molten Man to throw him but finds that he is
unable to budge the villain! The two continue to trade blows before Spidey
tries webbing up Molten Man to no avail, as Spidey’s webs just slide right off
his body!
The two resume trading punches once more, eventually
ending up in the basement of the complex. As Spidey has found that his punches
aren’t really harming Molten Man, he tries a different tactic and shatters the
lone light bulb, plunging the room into darkness! While Molten Man stumbles
around in the dark, Spidey spins his webs into extra thick ropes and uses his
spider-sense to easily find Molten Man in the dark, binding his wrists and
ankles with the web ropes! Molten Man tries fighting back but quickly finds
that the webs have hardened to the point where he can’t break them or slip out,
leaving him incapacitated! As the police show up, Spidey heads off, rushing to
make it home so as not to miss his graduation!
Peter makes it in time, walking down the aisle, while
his Aunt May watches on proudly, with Anna Watson by her side. Peter also notes
that Betty isn’t there, figuring that she must still be mad at him from the
previous few issues. At the end of Principal Davis’s speech, he awards an
academic scholarship to Flash and a science scholarship to Peter, giving the
two of them both a full ride to Empire State University! J. Jonah Jameson is
then revealed as the guest speaker for the event, much to the chagrin of the
student population, as Peter notices that Liz still seems down in the dumps.
Afterwards, everyone celebrates their newly graduated status, as Jameson comes
up to Peter and Aunt May, in order to try and charm Peter back to the Bugle.
Peter then excuses himself to talk to Liz who finally admits to the crush she
had on Peter, saying that she needs to do some growing up, leaving the two
on a bit of a bittersweet note. Our issue ends with Peter heading home with
Aunt May and Anna Watson, as he gears up for this new chapter in his life!