Preheat oven to 350. Grease two 9 x 5 bread loaf pans.
Sift sugar, flour, baking powder and salt. Cut in butter as for a pie crust. Add eggs, evaporated milk, cut up cherries, syrup from the cherries, nuts, vanilla and almond extract. Mix well by hand. Pour into 2 bread pans. Bake for 1 hour..or until toothpick comes out clean.