Each line is the word SENSATION, 9 letters, in various arrangements. But it reads like a story.

On assent, I,
atone sins.
A sin's tone
is not sane.
Sits an eon
as ion nest-
as tension.
As one nits
ones' stain-
as in Stone,
as in Onset,
a non-I, sets
Seat in Son.
In ass, note,
S.O.S. innate.
Saint ones
tos' insane.
In tao ness,
a sent nois'
is a sonnet
sensation.