This is The Spider for June 1940. I found this version of the cover (along with a brief article about The Spider) at ThePulp.net.
Pulp Parade #234: Three on hooks and one on the block
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Is The Spider doubling up as a vampire? It looks very much as if he has a pair of fangs.
Yes, I noticed that as well. My guess is that the Spider has fangs in emulation of actual spiders, which have fangs (part of their chelicerae, or so I just looked up).