Mix all cake ingredients listed above together. Pour batter over pecans.
Bake 1 hour in 325 degree oven. Cool in pan for 10 minutes. Prick cake with fork and drizzle with all glaze. Let cake sit in pan until all glaze is absorbed and cake is completely cool.
Melt 1/4 pound butter in sauce pan. Stir in 1/4 cup water and 1 cup sugar. Bring to a boil for one minute. Keep stirring and lower heat so it doesn't boil over......watch carefully. Remove from heat and add 1/4 cup light rum. Drizzle over cake.