In the second film of the series (and not a second part of anything), Gay Lawrence, aka The Falcon, is about to depart the city to marry his fiancée, Helen Reed, when a mystery girl, Rita Mara, asks for his aid in disposing of a secret formula for making synthetic diamonds. He deliberately allows himself to be kidnapped by the gang for which Rita works. His aide, "Goldy" Locke, trails the kidnappers and brings the police. But the head of the gang escapes, and the Falcon continues the pursuit.

Directed by: Irving Reis
Written by: Frank Fenton & Lynn Root
Runtime: 63 minutes
Tagline: Second of new screen series with the star who played The Saint.
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Cast:
George Sanders George Sanders
Gay Lawrence / The Falcon 
Wendy Barrie Wendy Barrie
Helen Reed 
James Gleason James Gleason
Inspector Michael 'Mike' O'Hara 
Allen Jenkins Allen Jenkins
Jonathan 'Goldy' Locke 
Mona Maris Mona Maris
Rita Mara 
Fred Aldrich Fred Aldrich
Spectator at Airport (uncredited)