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Compote of Peaches with Cream

Peel twelve good-sized, fresh, ripe peaches and cut them off the stones in third-of-an-inch slices. Place in a bowl with an ounce powdered sugar and two tablespoons maraschino. Mix well. Beat up one and a half gills thick cream for five minutes, adding two ounces sugar and half teaspoon vanilla essence, beat for a minute longer and add to peaches. Transfer to a compotier, arrange six champagne waffles around the compotiers and serve.