Soften yeast in water. Add milk, sugar, salt, shortening, eggs, nutmeg, and peanut butter. Beat well. Add flour to make a dough barely stiff enough to be kneaded. Knead until smooth on lightly floured board. Cover and let rise until double in bulk; work down. Form into rolls. Place on well-oiled baking sheet. Cover and let rise until treble in bulk. Bake in hot oven (450 ° F) about 15 minutes. 16 rolls.