1 c. unsalted butter, softened (2 sticks)
2 c. superfine sugar
2 c. good quality unsweetened applesauce
3 c. sifted all purpose flour
1 c. coarsely chopped pecans
1 c. raisins
1 tsp. ground cinnamon
1 tsp. ground nutmeg
1/2 tsp. mace
1 3/4 tsp. baking soda
1 tsp. vanilla extract

BROWN SUGAR FROSTING:

2 c. firmly packed light brown sugar
6 tbsp. heavy cream
1/4 c. unsalted butter (1/2 stick)
1 tsp. vanilla extract
1 c. sifted confectioners sugar

Preheat oven to 325 degrees. Grease a 9 inch tube pan. Cut a piece of wax paper to fit the bottom and grease it lightly. Dust the pan with flour, shaking out excess. Cream the butter and superfine sugar until fluffy, about 3 minutes. Then fold in the applesauce. This will not mix completely, but don't be alarmed.

Remove 1/4 cup of the flour and use it to dredge the nuts and raisins. Sift together the remaining flour, spices, and baking soda. Fold the dry mixture into the creamed mixture, then add the vanilla and the nuts and raisins. Pour batter into the prepared pan and bake for 1 1/2 hours, or until a cake tester comes out clean. Allow cake to cool in the pan, then invert to remove.

FROSTING: Place all the ingredients for the frosting except the vanilla and the confectioners sugar into a large saucepan and slowly bring to a rolling boil over medium heat, stirring all the while. Remove the pan from heat and stir in the vanilla and then the confectioners sugar. Pour frosting onto the top of the cake and let run down the sides. This frosting tends to set rather quickly, so don't try to spread it with a spatula; it will look best if allowed to flow naturally.