The Egghead steals the ancient charter of Gotham, which states that the land on which the city stands was only leased to the founders by the Mohican indians and the lease must be paid every few years in raccoon pelts. If the lease isn't paid then the land reverts to the Mohicans, by which they mean the remaining descendant or the Last of the Mohicans. Trapping Bruce Wayne, the Egghead announces that he knows him to be Batman and puts him in a machine that will strip his mind of all knowledge.

Considering that the Egghead is supposedly the single most intelligent crook that Batman has ever faced (even Batman agrees), he seems to be pretty dumb. First he pulls of the clever heist of the Gotham deeds just in order to read them, but there must surely have been a copy on sale in the gift shop and since the contents had been widely studied he ought to already know what was in it so what was the point? Then he names his hideout in a fashion that means Batman can figure out where he is in minutes.

None of this actually matters because watching Vincent Price ham it up as the sleazy villain is wonderful. He is clearly having so much fun (which he always does when playing the pantomime bad guy parts) that you just can't help but like him, even though the many egg puns get to the point where you just want to shoot the writer, resurrect him and then shoot him all over again. Calling the Egghead's assistants Benedict, Foo Young and Miss Bacon are about as clever as it gets.

There's also a not quite right feeling about the lampooning of the american indians as stupid (selling Manhattan for $24 when clearly they could have gotten $36) through the character of Chief Chicken, the Last of the Mohicans (hey it's one of the best gags so it gets repeated a lot) even though he doesn't dress at all like the Mohicans. It leaves an unusually sour aftertaste.