The Sinister Straws Of The Scarecrow! The Scarecrow, with the help of his two Strawmen, Otto and Raymond, develops an improved version of his Fear Toxin, which produces phobophobia, the fear of one's own fears, and then releases the supreme dread in a specific victim. His latest modus operandi is to have his men use the chemical on persons suspected of unsolved crimes, force the victims to return the loot at a specific place and time, and snatch the swag while they are delivering it.
Their first target is Jarvis Skibo, who fearfully returns $50,000 in stolen bonds to a bank. But Batman discovers Skibo's identity through an informant and has Commissioner Gordon leak the information that the bonds returned were counterfeit. The Scarecrow attempts to terrorize Skibo again, but Batman appears to fight him and the Strawmen. In the struggle, the villains manage an escape, leaving to Batman get the details of the Scarecrow's operation from Skibo. Having learned that Scarecrow's next victim is Thurston Binns, Batman prepares his next plan of action.
When Scarecrow and his thugs arrive at Binn's place to terrorize him, they are shocked when Batman reveals himself as a disguised Binns and fights the thugs. During the struggle, Batman is dosed with the fear toxin, crippling him for a few moments until he overcomes his own fear of failure and defeats the Scarecrow.
