Sift flour and sugar, add oil and eggs. Add slowly, the buttermilk, preserves. And nuts, blending well. Add vanilla. Pour into greased and floured tube pan.

Bake at 3250 for 45 minutes or longer.- probably longer- test with straw. Sauce:: optional: Mix in deep pot and boil for 3 minutes. Spread on warm cake which has been removed from pan.