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HE City was celebrating New Year's Eve. Spelled thus, with, a capital C, know it can mean but New York. In the Pink Fountain room of the Newest Hotel all those grand old forms and customs handed down to us for the occasion were being rigidly observed in all their original quaintness. The Van Dyked man who looked like a Russian Grand Duke (he really was a chiropodist) had drunk champagne out of the pink satin slipper of the lady who behaved like an actress (she was forelady at Schmaus' Wholesale Millinery, eighth floor). The two respectable married ladies there in the corner had been kissed by each other's husbands. The slim, Puritan-faced woman in white, with her black hair so demurely parted and coiled in a sleek knot, had risen suddenly from her place and walked indolently to the edge of the plashing pink fountain in the center of the room, had stood contemplating its shallows with a dreamy half-smile on her lips, and then had lifted her