Two people are sitting outside of a summerhouse in the garden. One of them is called Stevenson. Stevenson is smoking and the smoke causes the other person to wake up. Stevenson is reading the newspaper and sees that his friend, Jack Froston, has recently died. Froston published a book called Showmen of England before he died. Froston had told Stevenson that he had omitted an entire chapter of the book on English folklore. Stevenson last saw Froston at the wake for Froston’s deceased wife. The other person inquires as to whether Froston ever told him about the contents of the missing chapter. Stevenson begins to recite the tale.

Until 1969, Spangler’s House of Wonders was a funhouse in London. Hawkins and his son ran the place. Lurid drawings decorate the outside of the house of wonders while cases full of odd, unnatural phenomena are inside. Many of these are dubious and commonly thought of as false. There is also a hall of wax figures depicting crime and barbaric punishment scenes. Additionally, there are a few working models where one could drop a penny and see various disturbing scenes. Stevenson sees the place twice in his life. As a child visiting the house, he is disturbed by the working models and the realism of the crude wax figures. Twenty years later, Stevenson returns to the location of the house of wonders and finds it gone. He is surprised to find, however, that it had not closed because of the war. In fact, the house of wonders vacated the area a week before the bombing raid at that location.

At a local museum, Stevenson is informed that Spangler’s was no longer welcome in the building it occupied as many suspected it was associated with illegal activity. Prior to the business' vacation, authorities conduct a stakeout and notice the same odd figures entering the house, but never exiting it. One night two officers, Newcomb and Fargill pose as tourists inside the house while to other officers stand watch. The figure approaches. A police whistle is heard and the officers on watch raid the scene. Mr. Hawkins is questioned and the house is searched. No evidence of illegal activity is found. A rear window is found in the back of the arcade. However, Newcomb was not on the scene and is missing. Fargill has mysterious lacerations and commits suicide after being released from the hospital. The House of Wonders is promptly evicted from the property. Mr. Hawkins and his son became aloof and fall into silence. People begin reporting their loved ones missing after entering the house of wonders. These people are never seen again.

Eventually, after the passing of his father, Mr. Hawkins’ son reopens the House of Wonders as a traveling show. Disturbing deaths are reported in areas within the vicinity of the traveling show. When Hawkins’ son dies, the collections of the House of Wonders are sold at an auction. All the arcade equipment is sold to John Wildman—a friend of Jack Frostman. Wildman fixes up the machines. Wildman meets Frostman at a vintage car rally. Frostman talks about the book he was writing, and Wildman gives him a tour of his machines. This visit is intended to go in the chapter about Spangler’s House of Wonders.

Frostman tries one of the repaired machines after Wildman invites him back one day. Frostman is disturbed by the image. He tells Wildman that he ought to destroy these things. He did not see the ending of the machine. He was convinced that the events in the images really happened.

A few weeks after Frostman's visit to Wildman, his wife dies in a tragic car accident while heading home after dropping off chapters of her husband’s book to the publisher. When she is found, the chapter about the House of Wonders is found in the car. Knowing the meticulous way of his wife, Frostman is certain she would never have left that chapter out. Wildman dies about two months after Janice. Frostman begins a downward spiral after the death of his wife.

Before Wildman’s death, Wildman investigates the same peepshow as Frostman, but he watches longer. Wildman sees the figure in the machine turn and look into his eyes. The glass breaks on the machine and Wildman races to Frostman’s to tell him he was right about the machines. They spend the night drinking and talking. The next morning Wildman leaves while Frostman is making tea. Wildman's found dead in a body of water. His death is ruled a suicide.

The person listening to the story says there are many loose ends and asks if Stevenson knows anything else.

Stevenson continues to explain that after all of this, cellars are found under the ground where Spangler's House of Wonders used to reside. Human remains are also found in the ground. The Oxford Museum inherits some things from the House of Wonders. One of which is a shriveled-up corpse with a stake through its chest. It turns to dust when someone broke the display.

Stevenson reveals to the person that the peepshow viewed by both Frostman and Wildman was called The Whitechapel Horrors and Murders Exposed! It is presumed that the original owner of the House of Wonders may have been associated with these murders. Stevenson insinuates that vampires and ghosts were involved and ends the story as he does not wish to talk about the chilling matter any further for his own safety.