Oyster Stew

1/4 cup butter or margarine
1 pint fresh oysters
2 cups milk
1/2 cup light cream
1 tsp. salt
dash pepper
4 1 cup servings
Melt butter in small saucepan.
Add oysters (with liquor); cook and stir over low heat just until edges curl.
In another saucepan, heat milk and cream.
Stir in salt, pepper and oysters.