Grease and flour a 10 inch tube pan. Preheat oven to 350 degrees. In large bowl, cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition. Stir in extracts. In small bowl, combine dry ingredients and add to creamed mixture. Fold in sour cream and chopped peaches. Spoon batter into prepared pan. Bake for 1 1/4 to 1 1/2 hours or until a wooden pick comes out clean. Cut into thin slices to serve.

(A Note On Ripening Peaches) To ripen peaches in a hurry, put them in a brown paper bag. Tuck the open part of the bag under and let them set a room temperature. In 24 hours your peaches should be ripe enough to eat or make a peach dessert.