Story: "Night of the Butcher Act Two" (24 Pages)

Credits: Matt Wagner and Stephen T. Seagle (plot, script); Guy Davis (pencils, inks); David Hornung (colors); Heroic Age (color separations); Gaspar Saladino (letters); Karen Berger (edits)

Feature Character: Sandman I

Supporting Characters: Dian Belmont, Hubert Klein, Tony Burke, Robert Li (next in issue #41)

Villain: The unnamed butcher (behind the scenes)

Other Characters: Ella (first appearance; a friend of Dian's); Nick Avasino (first appearance); Regina "Gina" Argondezzi (first appearance; Burke's mistress); Woolsey, Harvey, Canella (first appearance of all three; New York police officers); Hiram (first appearance; dies); Charlie (first appearance; a sewer worker)