Scald peaches and remove skins. In skillet large enough to hold peaches in one layer, bring to a boil the sugars and water, stirring. Add peaches, cover, and simmer gently for abt. 4 min. Turn fruit over, re-cover the skillet, and poach peaches for abt. 4 min. Longer, or until they are barely tender.

Pour rum or brandy into clean 1 qt. Canning jar with 2 pc. Screw-on lid. Spoon in the peaches gently, packing very tightly without squashing them. Boil remaining syrup to thichen it slightly, but don't let it carmelize. Pour the syrup slowly over the fruit, leaving 1/2" headroom. Slip thin knife carefully around the inside walls of jar to release any air bubbles.

Cover and seal jar and place in boiling water bath to cover by 2" and process for 10 min.

Remove from boiling water and set on rack or towel to cool. Store in dark place for at least 1 month-preferably longer-before serving.