The narrative centers on Joe Strong, a former circus performer who invests his meager inheritance into building a unique flying apparatus known as the Bat, or wings of steel. While awaiting essential motor parts, Joe learns that his lawyer in England has tangled his mother's estate, threatening his financial stability and leaving him vulnerable to legal threats. Forced to return to the Sampson Brothers' Circus to earn a living, Joe resumes his high-wire and trapeze acts while continually refining his invention. He introduces novel attractions, such as an elaborate tank act involving a trained seal and a mock rube performance that revitalizes the struggling show's attendance.
Despite setbacks including motor burnouts and the interference of a mad inventor who imprisons him, Joe perseveres. He successfully tests his wings of steel in public exhibitions, notably winning a regional aviation race and rescuing passengers from a runaway balloon and a disastrous hotel fire. As the narrative progresses, Joe's ingenuity and loyalty earn him a partnership in the circus. Ultimately, a repentant accomplice exposes the corrupt lawyer handling Joe's estate, securing the protagonist's inheritance and paving the way for future ventures.