Stanley Stanfield is the inventor of the Vanishing Ray, a wearable device which, when active, leaves only the user's shadow still visible. After meeting with a fellow scientist, Carl Van Dorn, a prototype is built. Stanley intends to sell bonds to finance his invention. He inherited them from his late father, an editor for the Tribune newspaper, but the stockbroker he meets is corruptly involved with Wade Barnett, the businessman who hounded Stanley's father to his death. Barnett wants the bonds and will go to any length to acquire them. A conflict ensues between Stanley and Barnett. However, Stanley's new girlfriend, Gloria Grant, is really Gloria Barnett, his enemy's estranged daughter. Neither hero nor villain wants to hurt Gloria and must work around this in their struggle. Many scienc