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1.
DRAIN cherries, reserving 1 cup liquid.
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2.
COMBINE granulated sugar, brown sugar and cornstarch in large saucepan. Stir in reserved cherry liquid. Cook over medium heat until thickened and bubbly, stirring constantly. Cook and stir an additional 2 minutes. Remove from heat.
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3.
STIR in almond and vanilla extracts, butter and food coloring. Stir in cherries. Cool slightly.
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4.
HEAT oven to 400°F.
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5.
COMBINE flour and salt in large bowl. Cut in shortening with pastry blender or 2 knives until mixture resembles coarse crumbs. Add water one tablespoon at a time, mixing with fork until flour is moistened. Form dough into 2 balls.
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6.
PLACE one ball on lightly floured surface. Flatten and roll to form an 11-inch circle. Place into a 9-inch pie plate. Trim 1/2 inch beyond the edge of plate. Fill with cherry mixture.
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7.
ROLL out remaining dough. Cut dough into 1-inch strips with a decorative pastry wheel or sharp knife. Place strips over pie in a horizontal direction. Fold alternate strips back; place a strip vertical across top. Unfold strips, and fold the strips back that are under the last vertical strip. Place another strip vertically across. Continue until pie is completed.
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8.
TRIM pastry strips even with edge of bottom crust. Fold bottom pastry over lattice strips and seal. Flute edge. Cover fluted edge of pie with 1 1/2-inch strip of foil to prevent excessive browning.
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9.
BAKE 45 to 50 minutes or until crust is golden brown. Remove foil strip during final 15 minutes of baking time.