Preheat oven to 350 degrees F. In a large bowl,combine flour,sugar,and baking powder. Cut in shortening. Stir in eggs,orange juice,orange peel,and cherry juice. Fold in cherries and nuts. .
Pour into 2 greased and floured 8- x 4-inch loaf pans. Bake 45 minutes,or until a toothpick inserted in center comes out clean. Cool 10 minutes then remove from pan. Serve warm,or let cool on a wire rack.