This is from Aunt Fanny Bea - a relative of my mother's in Alabama.

Oven at 350 degrees.

2 eggs
1 1/2 c. sugar
2 c. flour
2 tsp. baking soda
1/4 tsp. salt
1 (#2) can fruit cocktail
1 tsp. vanilla

Beat eggs, add sugar and beat 5 minutes. Sift dry ingredients, add to egg; mix. Add vanilla. Stir in fruit cocktail including the juice. Line 2 cake pans with wax paper. Bake at 350 degrees for 30 minutes; set aside.

FROSTING:

1 sm. can evaporated milk
2/3 c. sugar
1 stick butter
1/2 tsp. vanilla
1/2 c. coconut
1/4 c. walnuts, broken

In a saucepan mix sugar, milk, butter; cook over medium-low heat, stirring often, until thick. Add vanilla, nuts, coconut. Frost tops only of cakes; stack and let cool. Serves 12.