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Melt 1 cube oleo and pour into 12x9x2 pan.
In a bowl mix 1 cup sugar, 1 cup flour, 2 tsp. baking powder and 1 tsp. salt.
Add 3/4 cup milk. Mix well and pour over butter.
Add 1 can (drained) and 1 can (with juice) peaches over batter mixture.
Sprinkle sugar over entire top.
Bake 1 hour at 325, or until golden and middle is done.