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The Arrow #2 cover
Cover: Bob Lubbers
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The Arrow #2

Nov 1940 · Centaur · 0.10 USD; 0.15 CAD
📊 ~15,780 copies sold its debut month
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In "The Headless Horseman Rides Again," Terry faces a terrifying trial in the House of Satan after his escape from the Underground World, forced to endure a single night under its sinister spell. With help from Tippy and a mysterious potion that alters his form without touching his mind, Terry must outwit dark forces in a battle of will and ingenuity. The story unfolds with eerie suspense, drawn with bold, expressive lines by George Loomis, while Bob Lubbers delivers a striking cover that captures the tale’s haunting mood.

Contains 10 stories
Untitled Superhero story
10 pp · Superhero
The Arrow [Ralph Payne]Richard van VadeenPolice CaptainHarry (villain, bank robber)"Schultz" Forbes (villain)Forbe's gang (villains)The Boss (villain, kidnapper)The Boss's gang [Limey (death)SlickBull (death)] (villains, kidnappers)

In "null," the Arrow faces a clever criminal who uses the hero’s own reputation against him—faking an Arrow attack to scare off thieves, only to steal their loot and set a trap for a far more dangerous kidnapping. Written by a creator from the 1940s and illustrated with crisp, dynamic art, this 10-page tale turns a simple heist into a web of deception, with the Arrow racing to untangle a scheme that’s far more sinister than it first appears.

Untitled Superhero story
6 pp · Superhero
The Arrow [Ralph Payne]Harry Benson (reporter)Benson's newspaper EditorCharlie (newspaper press man)Jane (reporter)Chief of PoliceMarcus (villain, killer)Marcus' mob [Rickierest unnamed) (villains)

In "null," reporter Benson finds himself caught in a dangerous web when, on the eve of gangster Marcus' murder trial, he receives a chilling warning from Marcus' gang: testify, and there will be consequences. With the trial looming and his life on the line, Benson must decide how far he'll go to uncover the truth.

Untitled Superhero story
6 pp · Superhero
The Arrow [Ralph Payne]John Carter (Department of Sanitation worker)Dr. Lang (Commissioner of Sanitation)Lang's SecretaryDr. Sheldon (villain, Department of Sanitation employee, embezzler, death)
The Headless Horseman Rides Again
9 pp · Western-Frontier
The Headless Horseman [Betty (Paige) Warren]Black Beauty (Horseman's horse)Betty's motherJim Parks (death)Sheriff Jim DandeeAlec Trush (villain, owner of the Bar-X Ranch)Trush's gang [Hankothers un-named] (villains)

In this 1940 western-frontier tale from *The Arrow #2*, the legend of the Headless Horseman strikes again—burning towns, terrorizing travelers, and striking fear into the frontier. When Betty rides the stagecoach only to see the Horseman steal from it, she refuses to believe the rumors, even as the terror spreads. But as the truth begins to unravel, she realizes the Horseman may be more than a ghost—it might be her, and the real danger lies not in the legend, but in the lies behind it.

Speedway of Death!
5 pp · Adventure
Larry KaneTommy Woods (young boy, accident victim)Tommy's motherColonel Kirkdale (race car owner)"Rock" Zirko (villain, racketeer)Red Bragg (villain, Zirko's race car driver)Zirko's mob (villains)
Untitled Adventure story
6 pp · Adventure, War
Lieutenant Lank [aka the Robin Hood of Wartime]Bavanian Consulateenemy soldiers (villains, some die)

In "null," Lank answers a desperate call from the Bavanian consul, who fears an imminent attack. With the threat confirmed, the lieutenant takes to the skies in a daring mission to confront enemy bombers devastating a small town.

Untitled Western-Frontier story
6 pp · Western-Frontier
Bill HardinPedro Carlos Montenez Del CordorbaDon Carlos (Pedro's father, rancher)Jose (ranch hand)
'The King' in London
7 pp · Adventure
Sir Oliver KingRoger KingSu (Roger's servant)Hemsley Hardwicke (Roger's cousin)Judson (family lawyer)Slip Horrigan (villain, gambler)Corrigan's gang [KnucklesPinkeyLeftyRoger Smith impersonator] (villains)

In "The King" in London," Roger’s unexpected return sets off a dangerous chain of events, as his sudden reappearance threatens to upend the plans of those who’ve been manipulating his cousin Hemsley for the inheritance. With a fortune of 100,000 pounds at stake, the stakes rise fast—especially when those with criminal designs see Roger as the only obstacle standing in their way.

Fantasy Isle Chapter 9
6 pp · Fantasy
Tippy TaylorSatan (villain)Carlos (villain, Satan's assistant)

In "Fantasy Isle Chapter 9," Terry, now reduced to miniature size after fleeing the Underground World, must spend a single night in the House of Satan to regain his true form. Forced to drink a strange potion that alters his appearance without touching his mind, Terry faces the dark lord’s schemes—only to find an unexpected ally in Tippy, who helps turn the tide.

Robin Hood
1 pp · Non-Fiction, Historical
Robin HoodWilliam the Conquerer

Lieutenant Lank, a daring pilot and soldier, races to the aid of the Bavanian Consulate when an enemy bomber from Castile D'Or threatens the nearby town of Tara and its helpless civilians. Commandeering a plane, Lank pursues the bomber and manages to board it mid-air, overpowering its crew and turning the tables on the waiting enemy forces below. It's a white-knuckle wartime rescue that shows what courage and quick thinking can accomplish when lives hang in the balance.

ComicBooks.com Value

Our Model is In Beta
Raw (Good) $493
CGC 7.0 · 3 in census $2,328
CGC 6.5 · 3 in census $2,328
CGC 6.0 none in existence
CGC 5.5 · 1 in census $1,305
CGC 5.0 none in existence
CGC 4.5 · 1 in census $1,152*
Show all 14 grades
CGC 4.0 · 1 in census $1,001
CGC 3.5 · 1 in census $892*
CGC 3.0 · 1 in census $790*
CGC 2.5 none in existence
CGC 2.0 none in existence
CGC 1.5 · 1 in census $418*
CGC 1.0 · 1 in census $350*
CGC 0.5 · 1 in census $299
* estimate — limited direct-sales data at this grade
Our model’s value — refined as new sales data arrives · CGC census counts shown where available

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Full credits

artist, inker George Loomis
cover pencils, inks Bob Lubbers

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