Prepare oven to 375 degrees.
Prepare pastry for single crust pie, cut slits in pastry. Combine sugar, flour and nutmeg. Add mixture to peaches and toss to coat. Let stand 5 minutes. Stir in grenadine syrup and lemon juice. Turn mixture into a 1/2 quart casserole or a deep 10' round baking dish, spreading peaches evenly. Dot with butter. Place pastry over peach mixture in baking dish. flute to the sides of dish but not over the edge. Cover edge with foil. Place dish on a baking sheet. Bake in 375 degree oven for 25 minutes. Remove foil, bake for 30 minutes more or until crust is golden color. Makes 8 servings.
