Rhode Island Red Clam Chowder

Name: Rhode Island Red Clam Chowder
Ingredients: 3 cups water; 6 pounds medium-size hard-shell clams , such as cherrystones, scrubbed; 2 tablespoons unsalted butter; 1 (28-ounce) can whole tomatoes , drained with juice reserved; 1 medium onion , minced; 1 tablespoon tomato paste; 2 medium garlic cloves , minced or pressed through a garlic press (about 2 teaspoons); 3 (8-ounce) bottles clam juice; 1 1/2 pounds Yukon Gold potatoes (about 3 medium), peeled and cut into 1/2-inch pieces; 2 ounces bacon (about 2 slices); 1 bay leaf; 2 tablespoons minced fresh parsley leaves; 2 teaspoons dry sherry; Salt and ground black pepper