November 27, 1997 12:00 AM

Michael Douglas, 55, put on his old “Streets of San Francisco” hero’s cap this weekend, when he chased down two car theft suspects for real in Cincinnati. Police Lt. Steve Wilger said two 17-year-olds made a run for it after crashing a swiped car not far from where Douglas was shooting a new movie, ironically called “Traffic.” By the time the cops showed up, Douglas approached them and pointed them in the direction of the suspects. The police hope to thank the star.

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