Mike Hammer has been living in gutters around New York City for the past seven years. Hammer's secretary and fiancée, Velda, is believed to be dead after a botched protection job involving a Chicago socialite and her new husband. Then, Hammer is apprehended and interrogated by his former friend, Captain Pat Chambers. Chambers blames Hammer for Velda's death but tells him about Richie Cole, a dock worker who is dying of severe gunshot wounds at City General Hospital and has insisted on talking to Hammer exclusively to reveal the identity of his killer. After interviewing Cole, Hammer learns that Velda is still alive and facing execution by a top level Soviet assassin dubbed "The Dragon. " Her only chance to survive is if Hammer can find her first.