The streets and parts of streets of the village designated by ordinance as through streets are hereby declared to be through streets. The driver of a vehicle shall stop at the entrance to a through street and shall yield the right of way to other vehicles which have entered the intersection or which are approaching so close on a through street as to constitute an immediate hazard unless directed otherwise by a traffic officer or a traffic control signal. (1969 Code, ch. 13, art. II, § 2.01)