Preheat oven to 325°F

In a large mixing bowl -cream the butter (or margarine if using) and shortening together. Add the sugar and continue creaming using a hand mixture until light, fluffy and smooth.

Next; add the eggs one at a time, beating well after each egg.

Sift the flour, baking powder and salt together in another bowl.

Add alternately in thirds the dry ingredients and milk to the creamed mixture blending well after each addition.

Next, add the vanilla and scrape down the sides of the bowl and beat for one minute with a hand mixer until smooth and creamy.

Pour the batter into a greased and floured tube pan (see post).

Bake for 1 hour and 10 minutes, until the cake is golden brown and cooks away from the pan.

Cool the cake for 10 minutes in the pan before turning out. Allow to cool completely before slicing.