The Black Circle (Il circolo nero)
Peculiar piece of work this one... Starts like a Fantômas-style gentleman-thief/mysterious criminal ring flick. When Our Deadbeat Hero stiffs The Villain with a gambling debt, Deadbeat is given a choice: join The Black Circle or die. Just when he is initiated, the scene immediately switches from Italy to a Chicago wool business - for 16 seconds - then to sheep Out West - for 12.5 seconds - then back to Deadbeat and the Black Circle. Deadbeat is assigned a theft and accepts. But then he sees a picture of his Mom and punks out.
So, after only 17.5 minutes of zero action, less than halfway, The Black Circle crime story ends, and Deadbeat loses his cherished greasy hairstyle (just a bit) to go Out West, where men are men, to join the cow-boys doing whatever it is that cow-boys do with sheep, in a new spaghetti Western romance story: A Fistful of Sheep.
Clearly, footage is missing. Nonetheless, it's hard to conceive of any footage that could credibly link these two stories. Peculiar piece of work this one...