Combine first four ingredients in 2 qt heavy sauce pan. Bring to boil. Stirring occasionally.
Boil for about 30 minutes on med/high heat then reduce heat to medium. Stirring occasionally.
Continue to boil on medium heat, stirring occasionally, for about 30 more minutes and as peaches become tender and syrup begins to thicken, mash and cut peaches with spoon until they become like pie filling.
Roll out biscuits on floured surface to about a 5 inch oval shape (I use parchment because it won't stick).
Fill dough with about 1 1/2 tablespoon of cooled filling. Fold over and crimp and seal edges.
Fry in skillet with about 1/2 inch deep (hot) Crisco. Fry on med/low heat 2-3 minutes on each side until golden brown. Fry 2-3 pies at a time.
Remove to absorbent paper towels.
*Note: May use 1/4 cup less sugar if you don't like them as sweet.