(Sure-Fire Comics 003b, 1940)
The Crimson Circle are a masked gang with a more grandiose than normal name (and led by the Crimson Mask, as can just barely be made out under that rip in the third panel above, a rare instance of the named villain being less prominent than his named henchmen in a story), who have the fortune to rob the same loan company as the Raven, leading to them capturing, unmasking and forcing him to work for them under the threat of revealing that he is in reality Police Detective Sergeant Danny Dartin, the man in charge of catching the Raven.
Did I say "fortune" above? That should in fact have read "to their misfortune," since as characters in a continuity-light comic, being something as threatening to the status quo as a villain who knows the hero's secret identity is tantamount to a death sentence, and indeed the entire Crimson Circle is gunned down by the Raven and the police as they try to shoot their way out of a bank robbery.
Not that I would imply that Golden Age comics never have long-term plot developments. Case in point: this is the issue in which Danny Dartin's fiance Lola Lash learns of his double life and goes from an enemy to an ally of the Raven. True love overcomes a mindless hatred of crime and so forth.
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