The Phantom rescues an amnesiac woman parachuted into the jungle. When he tracks down the pilot her memory returns -- she is Lydia Land, the world's richest girl. The Phantom discovers that her guardian is in the clutches of a crooked gambler who is trying to kill her so as to get his hands on the fortune. The Phantom tracks them down and brings them to justice.
Kit Walker [the "current," 21st Phantom as a boy]; Guran; Diana Palmer; uncle
Kit runs away and even fights Guran when his relatives greet him with shock for his jungle ways. But Diana Palmer, and his aunt, convince him that he is in fact welcome. The uncle is delighted to learn that Kit's jewels will amply pay for his education and more. With all established on a sound footing, Guran returns to the jungle, and Kit faces his new school's bullies.