The Shadow - 1940 Cinema Serial Ep. 07 Horror Waits

The Shadow (1940) was the ninth serial released by Columbia Pictures. It was based upon the classic radio series and pulp magazine superhero character of the same name.
The Shadow battles a villain known as The Black Tiger, who has the power to make himself invisible and is attempting domination of major financial and business concerns.

Victor Jory's Shadow is faithful to the radio character, especially the radio show's signature: the sinister chuckle of the invisible Shadow as he confronts the villain or his henchmen. Columbia, however, relied on fistfights, chases, and headlong action in its serials, and disliked the prospect of a 15-chapter adventure where the audience would not see much of the heroics, because the leading character was supposed to be invisible. By basing the serial more on the pulp fiction version and turning the mysterious Shadow into a flesh-and-blood figure, plainly visible wearing a black hat and black cloak, Columbia patterned the serial after its wildly successful serial, The Spider's Web (1938), itself based on a masked hero of pulp fiction. The Spider was the respectable Richard Wentworth, who terrorized the underworld as the mysterious Spider and infiltrated gangland under a third identity, small-time crook Blinky McQuade. Columbia copied the triple-role format for The Shadow, with the stalwart Lamont Cranston baffling criminals as The Shadow wearing a similar disguise and moving among them as their Asian confederate Lin Chang.