| Issue | #2 |
| Published | March-April 1948 |
| Frequency | bi-monthly |
| Cover Price | 0.10 USD |
| Pages | 52 |
| Characters | Lone Ranger; Silver (horse) |
| Synopsis | The Lone Ranger puts his hat on the end of a rifle and pokes it around a boulder. |
| Genre | western |
| Pencils | Mo Gollub ? |
| Inks | Mo Gollub ? |
| Characters | Lone Ranger; Tonto; Silver (horse); Scout (horse) |
| Synopsis | A secret organization called the Legion of the Black Arrow is robbing cattlemen to fund its operations to overthrow the federal government. |
| Genre | western |
| Script | Fran Striker? |
| Pencils | Charles Flanders |
| Inks | Charles Flanders |
| Notes | story begins on inside front cover in black, red, and white; four tiers of panels per page. |
| Reprinted | from The Lone Ranger (King Features Syndicate) 1941 or 1942 newspaper strips. |
| Characters | Lone Ranger; Tonto; Silver (horse); Scout (horse) |
| Synopsis | Tonto is captured by a gang planning to attack a wagon train. |
| Genre | western |
| Script | Fran Striker? |
| Pencils | Charles Flanders |
| Inks | Charles Flanders |
| Notes | story continues on inside back cover in black, red, and white and concludes on the back cover in full color. Four tiers of panels per page. |
| Reprinted | from The Lone Ranger (King Features Syndicate) 1941 or 1942 newspaper strips. |