A mysterious villain who calls himself The Dragon is attempting to prevent International Airways from beginning service in Mongolia, in order to protect the secret of the mountain of jade for himself. This 1936 film serial features a dungeon in the nearby monastery, the kidnapping of an archeologist who stumbles onto the secret, his daughter’s attempts to rescue him with Ace’s help, a death ray The Dragon uses on the airline pilots, a coded radio system by which The Dragon communicates with his henchmen, and a squadron of his own fighter planes!

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