There are few references to punch served at Thanksgiving. In 1970 and 1971 the following recipe for Thanksgiving Punch appeared in both Life Magazine and New York Magazine. The inclusion of cranberry juice would certainly have given the punch the red colour seen in this card from 1907.
Mix together in a punch bow ½ cup (4oz) lemon juice, ¼ cup (2 oz) sugar, 1 cup (8oz) each of cranberry juice, orange juice and strong tea. Then add 1 ‘fifth’ bottle (25.6 oz) of white Puerto Rican Rum and a dozen cloves. Introduce ice cubes to chill the punch. Decorate with thin lemon slices. (Serves 15)