CONTENTS: SERIAL: Second Stage Lensmen (Part 1 of 4) [Edward E. Smith, Ph.D.] NOVELETTE: Beyond All Weapons [Nat Schachner] SHORT STORIES: You Can't Win [Malcolm Jameson]; Finity [E. A. Grosser]; Direct Action [John Hawkins]; The Door [Oliver Saari]; Seat of Oblivion [Eric Frank Russell] ARTICLES: Power Per Pound [John W. Campbell, Jr.]; High Vacua [Henry Bott]