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Preheat oven to 300 degrees F (150 degrees C).
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Grease and line with parchment paper one 9x5 inch loaf pan.
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Cream butter or margarine and sugar together until light and fluffy.
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Add beaten eggs and orange juice and mix well.
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Sift flour and baking powder.
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Reserve 1/3 cup of flour mixture and toss with raisins and cherries (this will keep them from sinking to the bottom of the cake).
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Add flour mixture to batter and blend.
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Add floured raisins and cherries to dough and mix until just combined.
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Pour batter into prepared pan.
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Bake at 300 degrees F (150 degrees C) for 2-1/2 hours.
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Don't serve until several days old.
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Wrap the cake in plastic wrap or foil and store in a sealed tin.