Zane Grey bets he can catch a fish bigger than one he sees at Watsons Bay. He hears about a large shark, nicknamed "white death", terrorising the Queensland coast and goes to catch it. He is thwarted by the comic attempts of Newton Smith, a representative of the Wallanga Branch of Fish Protectors, to persuade Grey not to harm fish. There is also a romance between two young people. Eventually Grey manages to catch the shark.
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