Louise Grant busy at work for her employer Mark Mason when suddenly a man named Oswald Grimms enters the office demanding to see her. He tells her that he is an artist who wishes to draw her "friend" the Blonde Phantom and asks her to pass the message along. Finding the artist sketchy, Louise gets permission to step out for a while and uses her absence to change into the Blonde Phantom to investigate Grimms.
Deciding to play it safe, Blonde Phantom looks up a reputable artist named Vance Van Psymithe to act as her chaperone while visiting Oswald Grimms to insure that he is on the level. Van Psymithe agrees to accompany her and soon the two arrive at Grimms studio. Seeing Vance, Oswald demands that he leaves his studio right away, confirming the Blonde Phantom's suspicion. When Grimms tries to get violent with a gun, Blonde Phantom knocks him out with a judo chop. However, she realizes the errors of her judgement when Vance picks up the gun and points it at her. He explains that he is really the fraud and Oswald Grimms once helped the authorities put him away, and that he had tagged along to get revenge against him.
However, Oswald revives and both he and the Blonde Phantom easily take down Vance and turn him over to the authorities. Much later, after Grimm had finished his artwork, Louise Grant and Mark Mason go on a date to the art gallery to see the painting on display. Louise is horrified to find that Grimms had painted an abstract piece in her image.
- History Text extracted from the Synopsis for "Studio of Terror" in Sub-Mariner Comics Vol 1 30 edited by Nausiated