2 c. sifted flour
2 tsp. baking powder
1 tsp. salt
1/2 tsp. cinnamon
1/4 tsp. nutmeg
1/2 c. butter or shortening
1 1/4 c. sugar
2 eggs
1 1/2 c. peeled, finely grated apple
1/2 c. chopped walnuts or pecans

Sift together first 5 ingredients and set aside. Cream butter or shortening and sugar until light and fluffy. Beat in eggs, one at a time, beating well after each addition. Stir in dry ingredients and apple, half at a time. Fold in nuts.

Pour into well-greased and floured 9 x 5 x 3 inch loaf pan. Bake in moderate oven (350 degrees) for 1 hour or until done. Cool in pan 10 minutes and turn onto wire rack. Cool completely before slicing.