The second story in issue 5 gets off to a rip-roaring start when unpopular politician Alex Evell (his name makes me trust him) forces Zachary Collum (giving his name because Siegel did, maybe it'll be important!) to sell his paper the Morning Pictorial, under threat of his wife and son coming to harm. Clark and Lois find this news unbelievable for an entire panel before we cut to a city council meeting where Representative Barnes is angrilly requesting a probe of Evell's actitivites. "As a result, honest up-right Barnes is denounced in the Morning Pictorial as a rapscallion." and never heard from again, in this story at least.
Clark interviews the chief of police who confirms his suspicions of the article consisting entirely of lies, which then leads Clark to write an article of his own revealing the truth. This in turn leads to Evell confronting Daily Planet publisher Burt Mason (who?). Evell says that despite his outrage at the situation he will "consent" to buying the Planet, a piece of information that leads Mason (who?) to kick him out of his office. Evell declares war.
Some of the thugs attempt to escape in a stolen Daily Planet truck, an egress which is quickly cut short when Superman places the truck on top of an industrial smokestack. I guess the Planet didn't need that truck anyway.
Things go typically insane as a Pictorial thug attempts to run over a newsboy along with his stand, and another runs a Planet truck off a cliff. These thugs are in no way anonymous mind you, they're all driving Pictorial trucks, their affiliation is clear. Even if they manage to stop the Planet from being circulated for a day, they'll still have murdered in the name of Evell and his paper. Did anyone think this plan through? I'm not just talking about Evell either, I'm wondering if Jerry Siegel read this before sending it to print.
Naturally, Superman saves the aforementioned potential victims before any harm can come to them. One guy does get thrown through a reinforced plate glass window and is never seen again, but Superman can't be expected to save everyone! Come on! He does take the window-throwing thug and, informing the man he had better tell his boss to cut it out, throws him through Evell's office window.
As the thug delivers Superman's message the Man of Steel hangs from Evell's window ledge, hoping to hear important secrets. Unfortunately Evell notices his fingers gripping the ledge, and in an attempt to dislodge our hero smashes his digits with an axe. This has the obvious effect on the axe, but surprisingly Superman turns tail and runs. However an instant later he returns and listens in once more, knowing that Evell would never suspect him to return so quickly. I guess Siegel knew the old "Superman hangs from window, overhears plot" gimmick was getting old, so he introduced a bit of utterly pointless spice! Nevermind the fact that we've already borne witness to Superman's heightened sense of hearing, a power that should really make window-hanging obsolete.
At this point Evell is so desperate to kill Superman that he decides to burn the building to the ground, killing Lois and his own hired thugs along with him. Naturally Superman saves everyone, and the betrayed thugs agree to testify against Evell. That Collum guy (see? Knowing that name was totally important!) from the opening gets his paper back, and Clark is hilariously denied a vacation because now that the Planet has competition he is needed more than ever. Ha. Ha. Ha.