This "Complete Novel" (35 pages of text and 3 pages of art) appeared in the September 1940 issue of Street & Smith's CLUES. In the context of Race Williams' career, it's pretty far down the line (his first story appeared in 1923), but chronologically, Race still has a long way to go. His last adventure was published in 1954.
As "Victim for Vengeance" begins, Race learns that a gunman known as the Admiral, whom he had previously run out of New York, is back in town. Worse, the Admiral is shooting his mouth off, saying Race is too yellow to come and get him. Race promptly disabuses him of that notion:
We'll, he'll certainly try. Race soon finds himself embroiled in a plot involving a Broadway starlet, a kidnapped child, the vengeful Admiral and a bashful gent known only as "John Smith." Can Race shoot himself out of trouble? What do you think?
P.S. You may also be interested in the Black Dog Books volume Race Williams' Double Date and Other Stories. These tales were selected by longtime Daly collector Stephen Mertz, and includes an illuminating foreward penned by Steve himself. In addition to five Race Williams stories, there's one featuring Daly's number two hero Satan Hall, one starring Doc Fay (the closest Daly came to a Christ figure), two other fine stories, and "The Ambulating Lady," in which Daly discusses the craft of writing. There are even a few words by me.