Story: "The Phantom of the Fair Act Two" (22 Pages)

Credits:

Matt Wagner and Stephen T. Seagle (plot, script)
Guy Davis (pencils, inks)
David Hornung (colors)
John Costanza (letters)
Karen Berger (edits)

Feature Character:

Sandman I

Guest Star:

Jim Corrigan (last in ???)

Supporting Characters:

Dian Belmont
Lawrence Belmont (last in issue #40)
Tony Burke
Hubert Klein (next in issue #48)
Robert Li
Ross O'Donald (in between issue #38 and #47)

Villain:

Phantom of the Fair

Other Characters:

Fiorello Henry La Guardia
Winthrop Aldrich
Grover Whalen
Floyd Carlisle
Gary
Ling
Irving Spelling (first appearance; a gay man; dies)