Story: "Return of the Scarlet Ghost Act One" (23 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

Supporting Characters:

Dian Belmont
Hubert Klein (next in issue #53)

Villains:

Sean Patrick Petty
Peter Petty (Sean's cousin)
Colm Petty (first appearance of all three; the Petty Boys)
Mr. Gamboni

Other Characters:

Michael "Mike" Petty (first appearance; Peter Petty's brother and a comic book artist)
Jack McCall (last in issue #30)
Jimmy Robinson (a writer; behind the scenes)
Shelly Darrigo
Franco Derrago (brothers and owners of the Darringo and Darrigo Publishing Company)
Al Russo (an editor at the Darrigo and Darrigo Publishing Company)
Gladys (Russo's secretary; first appearance of all four)
Wilbur (first appearance; a young boy)