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1. Line a 5-3/4x3x2-inch loaf pan with foil, extending foil over the edges of the pan. Butter the foil; set aside.
2. Butter the sides of a heavy 2-quart saucepan. In the saucepan combine the sugar, milk, half-and-half, corn syrup and salt. Cook over medium heat, stirring constantly, until sugar dissolves and mixture comes to a boil. Clip a candy thermometer to sides of pan.
3. Continue boiling at a moderate, steady rate, stirring occasionally, until thermometer registers 236 degrees F, soft ball stage, (about 20 minutes). Adjust heat as necessary to maintain a steady boil.
4. Remove saucepan from heat. Add butter and vanilla but do not stir. Cool, without stirring, to 170 degrees F (about 20 minutes). Remove thermometer from saucepan. Beat mixture vigorously with a wooden spoon for 5 minutes. Add 1/3 cup cherries. Beat mixture vigorously for 1 minute more. Pour into prepared pan, spreading evenly. Let stand until firm. Use foil to lift fudge from pan; remove foil. To serve, top with additional cherries. Cut fudge into thick slices. Makes 20 servings.