Instructions: Preheat oven to 350 degrees.

Generously butter a 12 inch springform pan. Arrange 4 of the sliced peaches in a circular pattern in the pan and set aside.

Sift flour and baking soda. Set aside.

Combine molasses and water. Set aside.

Combine eggs and sugar in a mixing bowl and beat for 5 to 10 minutes until light and fluffy.

Add the melted butter gradually while still beating.

Alternately add the flour and molasses mixtures, mixing just until smooth.

Pour batter over peaches in the springform pan.

Place on center rack in preheated oven and bake for 45 minutes or until toothpick inserted in center comes out clean. Remove cake and let cool.

Saute the remaining peach slices in the 1/4 cup of melted butter and 6 tablespoons of packed brown sugar until soft but not mushy, about 6 to 8 minutes. Remove and let cool.

Invert cake onto serving platter so peaches are on top. Arrange the cooled peach slices around the top of the cake.

Melt the preserves in the top of a double-boiler and generously brush over the sliced peaches.

This dessert is extremely elegant and is perfect for company.

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