A new pulsating radio source has been discovered during the first phase of a systematic search for such objects carried out with the 300 foot transit telescope at the US National Radio Astronomy Observatory (NRAO). The new source lies at the position α(1950)=15h 06m ± 2m, δ(1950) = + 55° 30′ ± 40′, has a heliocentric pulse-repetition period of 0·73968 ± 0·00002 s, and is similar in many respects to the four pulsars discovered earlier this year by Hewish et al. 1 and Pilkington et al. 2 . We suggest that the source be called HP 1506, for Harvard pulsating source at right ascension 15h 06m, to conform with the nomenclature used for the Cambridge pulsars.