Cream butter, Crisco and sugar 10 min. Creaming well is the secret to a velvety texture, so don't skip this step.
Add eggs; one at a time. Beat well after each addition.
Incorporate baking powder into flour. Add this flour mixture (approx. 1/2C at a time), alternate with milk. The correct way is to begin by adding dry ingredient and ending with dry ingredient.
Add flavorings one at a time, beating well after each addition.
Line bottom of tube pan with wax paper. Grease and flour pan well including the center tube. Pour batter into pan evenly around the tube. Shake pan gently to reove air bubbles.
Bake in preheated oven at 325 degrees for 1hr15m, testing for doneness by inserting table knife into cake (the knife should be clean if done). Cool in pan for 20-25m, loosen the cake from the edge of the pan with your knife. Invert cake onto cake plate to finish cooling. Let cake cool completely before slicing.