Combine whiskey, syrup and lemon juice. Stir well. Add sparkling water and bitters to taste. Pour over block of ice in punch bowl. Yield: About 50 servings.
Note: More lemon juice may be added, if desired. For individual Old-Fashioneds, allow 1 teaspoon sugar syrup, and 1 dash bitters. Place in bottom of old-fashioned glass, fill half full of crushed ice and pour whiskey over this to within 1 inch of top. Add sparkling water if desired. One slice of orange and 1 maraschino cherry may be placed on top of the ice before the liquor is added.