Captain Flight Comics #11

Torpedoman is notified by Salvador that a giant creature lurks beneath the ocean, so he decides to scope it out. Sure enough, he faces the biggest octopus he has ever seen. Suddenly he is attacked and overcome by a group of divers and is taken to their boss, Mr. Fowler. Escaping, Torpedoman, suspicious of the octopus, heads back down to confront it, and discovers it is made of rubber and was being used to scare off unwanted people from discovering a gang's illegal underwater oil-drilling operation.