In large bowl, cream together butter and shortening; add eggs, one at a time, creaming after each. Add sugar. Sift flour and baking powder together. Add alternately with milk to batter. Bake in greased and floured 10" bundt pan for 1-1/4 to 1-1/2 hours at 325~.

Frosting: Toast pecans in butter in broiler pan until well browned. Cool slightly; add sugar and enough milk to thin to spreading consistency. Spread on top of cake. Some should drip down sides and center, but spread only on top.