Soak two cups of dried apples overnight in water to cover. Drain and chop the apple rings into quarters, reserving the soaking water. Simmer 1 hour in molasses with the reserved apple-soaking liquid. Take off heat, lift the apple pieces out with a slotted spoon, and allow them to cool a little. Set aside the cooking liquid for another use (the apples will have picked up enough of the molasses flavor).