The Frozen Ghost is number four in a series of six films under the title Inner Sanctum Mysteries. Harold Young [The Mummy’s Tomb] is a new director in this series and he does a decent job with the material he’s been given. Unfortunately Frozen Ghost steals much of its plot from the 1933 classic The Mystery of the Wax Museum. To add insult to injury it doesn’t do a great job with the material either.
This is not to say the acting is bad. Lon Chaney is solid as Alex Gregor, a stage mentalist who is convinced he has killed someone solely by the power of his mind. If Young had stuck with this storyline it might have worked. But then the wax museum material gets introduced, it begins to feel like two movies in one.
Universal Studios probably cranked this picture out very quickly and it shows. It might have amused audiences in the 1940’s but it’s definitely one of the weaker films in this series.
For more info check out the film's entry in IMDB.