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Major Steel (Joseph W. Girard) is one of the few people aware of the fact that Captain Albright (Dave O’Brien) is also Captain Midnight, a masked aviator dedicated to fighting criminals and enemies of America. When bombing attacks are made on West Coast munitions plants, Steel sends for Albright and asks him to track down Ivan Shark (James Craven), the mastermind behind the attacks. Shark has learned about an ingenious range finder, invented by John Edwards (Bryant Washburn), and plans to obtain it for himself. Edwards instructs his daughter, Joyce (Dorothy Short), to bring the range finder to Albright for safekeeping in his mountain laboratory. However, Shark takes Edwards hostage, though Albright assures Joyce that her father will be saved. Captain Midnight and his friends, Chuck (Sam Edwards) and Ichabod Mudd (Guy Wilkerson), set out to destroy Shark and rescue Edwards.