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In a medium saucepan, cook bacon until done but not too crisp. Remove from saucepan, chop, and set aside.
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Next add the onion and sauté 3 – 4 minutes. Add celery and peppers to the saucepan and sauté 2 minutes more over medium heat.
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Drain clams and reserve liquid. Place clams in the refrigerator.
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Chop potatoes into ¼ - ½ inch cubes.
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Add liquid from canned clams, clam juice, chopped potato, bay leaf, salt and pepper to the saucepan. Bring stock to a boil. Reduce heat and simmer for 10 minutes until potatoes are fork tender.
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Add clams, Worcestershire, fresh thyme and cream. Simmer to heat the soup, but do not boil.
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Serve with sour dough bread or inside a sour dough bread-loaf, like you’ll see in San Francisco.
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For a New England presentation, serve with oyster crackers or saltines.