By Dray Clark

PHILADELPHIA (CBS) — In Philadelphia’s Bridesburg neighborhood, a long-standing Memorial Day tradition continued.

Hundreds of people lined the streets to watch the annual Memorial Day Parade, which has happened every year since 1946.

Residents say it’s one of the neighborhoods proudest moments when they come together to remember and recognize America’s fallen servicemen and women.

But in neighboring Port Richmond, there was no parade this year.

Organizers say they were $9,000 short. They needed $12,000 to cover the cost of city services, marching bands and insurance.

Instead, a local band performed at Campbell Square while veterans of the Korean War conducted a flag raising ceremony and placed a ceremonial wreath at the square in honor of fallen veterans.

Organizers say they’re hoping to raise enough money next year to host a parade.

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