Boil ingredients (except fondant) until, when tried in cold water, a firm ball may be formed in the fingers, not stirring until the last few minutes of cooking. Pour on a buttered platter, and when cool enough to handle, pull until light colored. Shape on a floured board, having strip wide enough to enclose a roll of fondant one inch in diameter. Place fondant on candy, bring edges of candy together, and press firmly over fondant. With both hands pull candy into a long strip. Cut in small pieces; each piece will consist of fondant encircled with molasses candy. Care must be taken that candy is not cooked too long, as it should be soft rather than brittle.