(Cover Date: August, 1987)

Summary: Peter attends Ned's funeral & sees Betty home afterwards. He blames himself for Ned's death. Richard Fisk is questioned by Joy Mercado as to why he is at the funeral. Richard tells Alfredo & Dina about his former business relationship with the Hobgoblin. As Keating & Kingsley are arguing about going to prison due to their ties to the Hobgoblin, they are interrupted by the Rose's hitmen. Kingsley is wounded while Keating manages to escape out the window. Later, the Rose returns to his penthouse to find that his two hitmen have been killed by the new Hobgoblin (Jack O'Lantern). Hobgoblin flies off after deciding to let the Rose live for now. Wolverine finds a brooding Peter by the dock when a gang attempts to mug them. They fight back & send the gang fleeing. Hobgoblin finds Alfredo in one of his hideouts, looking for evidence against Richard. After avoiding the Hobgoblin's finger blasts, Alfredo flees in his Porsche. Spidey & Wolverine pursue the gang, & Spidey webs them up for the police. Hobgoblin chases after Alfredo, whose car goes off the dock with a blown tire, but he is rescued underwater by Spidey. Wolverine tells Spidey that he is not responsible for Ned's & Charlie's deaths in Germany, & he needs to let it go.

Comments: After a number of inventory stories, Web finally ties back to the other Spider-Man titles.

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