THE MASKED MARVEL
From 1943, this is a serial that has a lot of very good things going for it, and yet, somehow, it's never been one of my favorites. THE MASKED MARVEL has a classic, vile villain in the form of Japanese spymaster Sakima (played with enthusiasm by Johnny Arthur), it has plenty of fights and stunts up to the usual Republic standards of that time, and it also has some chapter endings with more imagination than the usual cars over cliffs and exploding houses. This serial also has a satisfying punchline in the final chapter that is genuinely funny, when Sakima counts the Marvel's shots and says he is now out of bullets and helpless. (See bottom for spoiler*.)
Tom Steele has more screen time than anyone else but since he is never shown without the mask and doesn't even get ANY billing in the credits, it's a mixed blessing at best. (On the other hand, it was steady work, always a plus for a stunt man). What doesn't work (for me, at least) is the basic narrative hook. The ace crimefighter known as the Masked Marvel is actually one of four insurance investigators assigned to track down Sakima and stop the rampage of sabotage.
(This concept of multiple possible suspects to be the hero was earlier done in the Lone Ranger serial, although it was much more common that the identity of the villain was gradually determined.) Unfortunately, the four actors playing the agents have no charisma or noticeable personalities. Maybe back in 1943, when you saw a chapter every Saturday, this guessing game may have been more effective but watching the serial today, it doesn't seem like a genuine mystery with fair clues. Since the Marvel (while masked) speaks in a completely different voice than any of the four, how do we know that he IS one of them? It doesn't really seem to matter which of the four is the hero, and there are many puzzlings problems to the whole situation.
Why does the Masked Marvel reveal his identity to the heroine (in the first chapter) at all? Why does she need to know? Are the other three investigators instructed to wear identical suits every day, to keep up the mystery of which one is the Marvel? What do they have to gain by this? You have to wonder what would happen if they showed up in different outfits just to see which one would suddenly go into action with that mask on? Since two of the investigators are killed during the adventure, the one remaining who WASN'T the Masked Marvel must have looked at his other surviving colleague and thought, "Not much guessing required now."
And it's a minor point, but heroes with simple descriptive names like Spy Smasher or Captain Midnight or Rocketman are one thing...but someone calling himself the Masked Marvel shows a certain vanity and conceit more appropriate to a pro wrestler than a crimefighter.
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*SPOILER. The Marvel shoots Sakima anyway, much to the spy's surprise and says, "Did it not occur to your Oriental mind that I might reload?" Way to go, Marvel!