Times Square is hosting 1 million people celebrating New Year’s Eve Thursday night in the famous Midtown bowtie.Some 200,000 revelers first rang in the New Year at Times Square in 1904 in commemoration of The New York Times’ then-new headquarters. The newspaper’s owner, Adolph Ochs, arranged in 1907 for an illuminated 700-pound iron and wood ball ball to be lowered from the building’s flagpole after the city banned a fireworks display.