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History of New Year's Eve in Times Square
Friday, 15 December 2006
Charles Harbutt, "New Year's Eve, Times Square, 1961"

The now-famous ball that drops on the stroke of midnight every New Year's EveFor an entire century, Times Square has been the epicenter of New Year's Eve celebrations, beginning in 1904 when Adolph Ochs, the owner and publisher of The New York Times, began conducting celebrations on the roof of One Times Square to usher in the New Year.

Following a ban on fireworks display in 1906, Ochs dreamed up the idea of dropping an electric ball from the top of the building. This tradition has become a worldwide symbol of the New Year.

The Times moved out of the tower in 1913, although it remains in the neighborhood. Later known as the Allied Chemical Building and now known as One Times Square, the tower is the site of the annual New Year's Eve ball drop.

On January 1, 1907, a ball signifying New Year's Day was first dropped at Times Square, and ever since the Square has been the site of the main New Year's celebration in New York City. On this night hundreds of thousands of people congregate to watch the Waterford crystal ball being lowered to the ground marking the new year.

It replaced a lavish fireworks display from the top of the building that had been held from 1904 to 1906, but was outlawed by city officials. During World War II, a minute of silence, followed by a recording of church bells pealing, replaced the ball drop because of wartime blackout restrictions. (excerpt from Wikipedia)

The Times Square Business Improvement District, which represents the property owners and businesses in Times Square and Countdown Entertainment, which represents the New Year's Eve Ball and the owners of One Times Square, are the organizers and official sanctioning body of the annual Times Square New Year's Eve celebrations.