The story:
A breathless man enters the Deep Woods with a fantastic tale: his caravan has disappeared without a trace after being called out to a lake by a beautiful lady ???floating?? on the water!

Deciding to investigate this fantastic claim, the Phantom rides to the lake just in time to see another caravan meeting the same fate. Ignoring the risks, the Phantom plunges into the water in order to literally get to the bottom with one of the most unusual mysteries he has ever encountered...