On Sale Date: February 1996
Writers: Howard Mackie & James Felder
Artist: Salvador Larroca
Inker: Al Milgrom
Letterer: Richard Starkings and Comicraft
Colorist: Kevin Tinsley
Editor: Bobbie Chase
Editor-in-Chief: Bob Harras
Cover Artist: Salvador Larroca
In Gotham City, Hal Jordan is saved from Uatu the Guardian by Speed Demon, who then in turns kills Jordan as well. Later, at the Quentin Carnival, the carnival members attempt to convince Wally West to leave due to the erratic behavior of his uncle, Blaze Allen. Wally refuses and goes to Blaze's trailer, where he sees the Speed Demon transform back into his uncle. Blaze tells his story, how on his wedding day his bride Iris had her soul taken by the Night Spectre, whose goal is to collect the souls of power that will allow him to rule all creation. To fight the Night Spectre, Blaze allowed his soul to be bonded to a demon named Etrigan, turning him into the Speed Demon. Only one soul of power remains, and Blaze transforms into Speed Demon to track it down.
Meanwhile, the Green Goblin has been revealed as the final soul of power and is being chased by the Night Spectre's minions. Speed Demon arrives but is unable to prevent Night Spectre from claiming the Goblin's soul. Speed Demon follows Night Spectre through a portal into his realm. Back at the carnival, Wally is visited by Merlin, who claims that Night Spectre sought Blaze's soul but was refused, sealing Iris' fate. Merlin turned Blaze into the Speed Demon and now he has a deal for Wally.
In Night Spectre's realm, Etrigan and Blaze have been separated, allowing the villain to try and destroy them both. He's stopped by another Speed Demon who crashes through the portal on a motorcycle and reveals himself to be Wally West. With Night Spectre gone, his spirit transferred into a human host, Blaze and Etrigan destroy the souls of Iris Allen and Jay Garrick, giving them peace at last. The two Speed Demons then return to the Quentin Carnival, but Blaze is left wondering which demon Wally is bonded with.