West and Gordon assist in the evacuation of Tonka Flats, a small Colorado town. Promptly at noon the town is completely obliterated by a single cannon shell - just as a mysterious man calling himself "the Falcon" had claimed it would be. The Falcon is demanding $1 million in exchange for ''not'' blowing up UsefulNotes/{{Denver}}. The agents are tasked with tracking down the Falcon and his weapon before that threat can be carried out; their investigation lands them in Sinful, Colorado, a group of international criminals and a whole lot of danger.

!!Tropes present in this episode:
* AuctionOfEvil: The Falcon offers to give away his giant, city-obliterating cannon...to whoever wins the auction for the exclusive rights to the custom gunpowder.
* BullyingADragon: Herr Heindorf seems to go out of his way to antagonize the Falcon even before he decides to back out of the deal.
* CosmopolitanCouncil: The group of crooks invited to bid at the AuctionOfEvil: a Spaniard, an Englishman, a German, and a Turk.
* DeadPersonImpersonation: One of the international criminals invited to the auction ends up dead while an uninvited guest aboard the agents' train. Artie takes his place.
* DistressBall: Jim carelessly leaves his loaded gun within easy reach of the villainess. So carelessly that at first it seems to have been done on purpose to test her, especially when he subsequently claims that the gun isn't loaded. But no - he really ''was'' that stupid.
* ElaborateUndergroundBase: The Falcon's lair is in an old mine. It's huge and extravagantly furnished.
* ItWorksBetterWithBullets: Jim says this to Lana Benson to get her to drop the gun. Artie is somewhat less than amused to discover that he was totally bluffing.
* LargeHam: Joseph Ruskin as Munez takes bite marks out of the scenery just as much as he did in his first appearance ("The Night of the Fatal Trap"), so it's a relief when Artie [[DeadPersonImpersonation has to take over after Act I]]. Notably averted with the BigBad himself (played by the never-knowingly-hammy Robert Duvall).
* MuggedForDisguise: Jim lures a guard into his cell so he can carry off this.
* ThrownFromTheZeppelin: Herr Heindorf, who attempts to withdraw from the auction while holding the room at gunpoint. He's promptly killed from behind by one of the Falcon's guards.
* TownWithADarkSecret: Sinful, Colorado, home of the Falcon and his accomplice.