(The term 'galactic' here includes the galactic halo) Available observational material on 3C 273 is critically examined with reference to the redshift hypothesis and the plasma laser star (PLS) model of Varshni ( 1974a, 1974b, 1974c) (a) Emission lines. Large uncertainties in the reported wavelengths (Schmidt 1963, Oke 1963, Greenstein and Schmidt 1964, Andrillat and Andrillat 1964, Oke 1965, Divan 1965, Wampler and Oke 1967, Wampler 1969) are pointed out. In the redshift interpretation, [O III] 5007 Å is present, but 4959 Å is not, which is clearly unsatisfactory. In the PLS model, the following identifications are proposed: 3239 Å is due to O III, 7598 Å is due to C III (Edlen 1956). Astronomers are urged to obtain more accurate wavelengths of the emission lines. It would also be of interest to obtain the spectrum of the jets (3C 273A) alone. (b) Interstellar K and H absorption lines have been observed in the spectrum of 3C 273 (Williams 1965). High resolution studies of the profiles and intensities of these lines in 3C 273 and in other QSOs are expected to throw light on the distances of QSOs. (c) Divan (1965) has shown that the absolute energy distribution in the continuum is like that of a black body with a color temperature of 11,300 K. (d) Latest radio observations (Kellermann 1974) on the angular size find a natural explanation if 3C 273 is a galactic object. (e) Optical Variability. (f) Similarities between the spectra of 3C 273, NAB 0205+02 and 4C 39.25 are pointed out. It is concluded that the available evidence favors the view that 3C 273 is a galactic star.