Trim excess fat from meat. Rub meat with mixture of salt, thyme and bay leaf. Refrigerate 2 hours.
Brown meat in fat trimmings in heavy deep pan or Dutch oven. Add water to depth of 2″. Cover, and simmer on top of range until well done (20 to 25 minutes per pound). Add more water if needed.
Remove meat from pan; set aside, keeping it warm, while you mak