The title story was revised by de Camp from the original version by Howard and was first published as "The Black Stranger" in Fantasy Magazine for February, 1953.

The hill turns out to hold a treasure cave, along with the preserved bodies of a pirate captain, Tranicos, and his crew.

Eventually, the treasure draws others towards the forbidden cave in their quest for it — one Count Valenso, and both Zingaran and Barachan sea reavers.

Howard's original story pointed toward a new nautical career for Conan; one of de Camp's major changes was to make it lead instead into the revolution that would bring the Cimmerian to the throne of Aquilonia.

The essay following the story relates the circumstances of de Camp's discovery of Howard's manuscript and his revision and publication of it.