1. Beat butter and shortening, add sugars.
2. Beat in eggs, one at a time.
3. Sift dry ingredients and add alternately with milk and vanilla.
4. Stir in nuts.
5. Bake in floured tube pan for 1 hr. and 15 minutes at 350 degrees.
6. Cool 10 minutes, then remove from pan and pour walnut glaze over cake.
7. Glaze: Cream 1 cup sifted powdered sugar with 2 Tbsp butter, 6 Tbsp cream, 1 tsp vanilla and 1/2 cups walnuts.
8. Pour over cake.