Cream butter; gradually add sugar, beating well at medium speed of an electric mixer. Add eggs, one at a time, beating after each addition.

Add flour to creamed mixture alternately with milk, beginning and ending with flour. Mix just until blended after each addition. Stir in flavorings.

Pour batter into a greased and floured 10-inch tube pan. Bake at 300° for 1 hour and 40 minutes or until a wooden pick inserted in center of cake comes out clean. Cool in pan 15 minutes; remove from pan, and let cool completely on a wire rack.