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Cream butter and Shortening thoroughly.
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Add sugar, 1/2 cup at a time.
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Beat until light.
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Add eggs, one at a time, beating after each addition.
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Add 2 cups flour alternately with milk containing flavoring.
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Add the last 1 cup flour containing salt and baking powder.
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Stir in 1 cup finely chopped walnuts.
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The batter will be thick and fluffy.
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Spoon into tube pan, which has been lightly greased and floured.
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Place the cake in COLD oven on middle shelf.
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Turn oven to 350ºF.
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Don't open door for 1 1/4 hours.
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Allow cake to cool in pan on wire rack.