MATCHLESS

Mistaken for a spy by the Communist Chinese, New York journalist Perry "Matchless" Liston is tortured to obtain information about a lethal chemical substance. An elderly Oriental with whom he shares a cell gives Liston a ring that, when rubbed, makes him invisible for a short period of time. With the ring's help, he escapes from a Chinese firing squad but lands in the U. S. military's torture chamber for his presumed knowledge about the same chemical. 

He reluctantly agrees to assist U. S. intelligence forces in recovering the formula as well as samples of the substance held by Andreanu, a sinister international gangster. Aided by agent Arabella, whom he meets in London, Liston plots to get the material out of a Munich bank, but he encounters competition from foreign agent Tipsy and American traitor Hank Norris. Eventually Liston succeeds in extracting the formula and samples by employing the magical ring. Not trusting even the U. S. military with the dangerous information, Liston throws everything into the harbor at Hamburg. Unknown to Arabella, however, Liston keeps the magic ring.