1. Preheat oven to 300 degrees. 2. Cream butter and shortening with sugar. 3. Add eggs; one at a time beating well after each addition. 4. Sift dry ingredients together. Add to creamed mixture alternately with milk. 5. Add vanilla and nutmeg. 6. Pour into greased and floured bundt pan. 7. Bake for 90 minutes. 8. Cook for about 25 minutes then invert onto serving plate.