| Issue | #98 |
| Published | October 1948 |
| Cover Price | 0.10 USD |
| Pages | 52 |
| Editing | J. F. Byrne (Managing Editor); William R. Shelton (Editor) |
| Characters | Captain Wings |
| Genre | adventure |
| Pencils | Bob Lubbers (signed) |
| Inks | Bob Lubbers (signed) |
| Characters | Captain Wings; VILLAIN: Mr. Pupin (intro) |
| Genre | adventure |
| Script | ? [as Major T. E. Bowen] |
| Pencils | Bob Lubbers |
| Inks | Bob Lubbers |
| Notes | The story title is taken from the cover blurb. |
| Characters | Jane Martin |
| Genre | crime |
| Script | ? [as F.E. Lincoln] |
| Pencils | George Evans |
| Inks | George Evans |
| Characters | Suicide Smith |
| Genre | adventure |
| Script | ? [as Capt. A.E. Carruthers] |
| Pencils | John Celardo (signed) |
| Inks | John Celardo (signed) |
| Genre | fact |
| Pencils | ? |
| Letters | typeset |
| Notes | illustrated text story |
| Genre | adventure |
| Script | ? [as George Barton] |
| Pencils | Art Saaf |
| Inks | Art Saaf |
| Reprinted | in Rangers Comics (Fiction House, 1941 series) #9 [Altered and abbreviated version of the original Phantom Falcons nine-page story] |
| Letters | typeset |
| Characters | Ghost Squadron |
| Genre | mystery |
| Script | ? [as Capt. Derek West] |
| Pencils | Maurice Whitman (signed) |
| Inks | Maurice Whitman (signed) |
| Characters | The Phantom Falcon |
| Genre | adventure |
| Script | ? [as Cliff Dubois] |
| Pencils | Charles Sultan |
| Inks | Charles Sultan?; ? |
| Notes | The remainder of the last page is occupied by an advertisement. |