1 c. (2 sticks) butter, softened
1/2 c. shortening
1 lb. light brown sugar (about 2 1/4 c.)
1/2 c. sugar
5 eggs
2 tsp. vanilla
3 c. sifted all-purpose flour
1/2 tsp. baking powder
1/4 tsp. salt
1 c. milk
1 c. chopped pecans

Grease and flour a 10 inch tube pan. Cream butter, shortening, and sugar until light and fluffy. Add eggs one at a time, beating well after each addition. Blend in vanilla. Sift together flour, baking powder and salt; add alternately with milk to creamed mixture, beginning and ending with dry ingredients. Fold in nuts. Spoon batter in prepared pan. Bake at 350 degrees 1 hour and 10 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes. Turn out onto wire rack and cool completely; drizzle with Caramel Glaze.

CARAMEL GLAZE:

1/4 c. (1/2 stick) butter
1/2 c. firmly packed brown sugar
1/4 c. milk
2 c. sifted confectioners' sugar
1 tsp. vanilla

Melt butter in pan over medium heat. Stir in brown sugar; cook 2 minutes stirring constantly. Add milk and continue cooking until mixture boils, stirring constantly. Remove from heat, gradually stir in powdered sugar. Add vanilla; blend well; drizzle over cake.