Pour boiling water over oats, cover and let stand for 20 minutes. Beat butter until creamy; slowly add sugars; beat until fluffy. Blend in vanilla and eggs. Add oats mixture and mix well.
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Add flour, soda, salt, cinnamon and nutmeg. Mix well. Pour into a sprayed 9 x 13 inch cake pan and bake in preheated 350 degree oven for 1 hour. Let cool.
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Note: The last time I made this cake I cut the brown sugar from 2 cups to 1 in the cake. I could not tell the difference.