Ringmaster gets fired as the leader of the Circus of Crime and instead the Circus hires some clown to run their organization. Seriously. They also change their name to become The Masters of Menace.
Also: First appearance of the Spider-Tracer.
Creators: Stan Lee and Steve Ditko
First appearances: Masters of Menace, Princess Python, spider-tracer
Grade: B-. Because average Lee/Ditko is better than just about any other comic on the market in 1965.