Preheat oven to 350^. Cube donuts into a large bowl. Pour milk, fruit cocktail, eggs, raisins, salt and cinnamon on top of donuts and let soak for a few minutes. Mix together, until donuts have soaked up the liquid as much as possible. Bake for about 1 hour until; center has jelled. Top with Butter rum sauce, or a powered sugar glaze. BUTTER RUM SAUCE: 1 stick of butter, 1 lb. box of confectioners sugar, rum or rum extract to taste. Melt butter and slowly sitr in confections sugar. Add rum or rum flavoring. Pour over each serving bread pudding.