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Imperial Cake

I lb. (2 cups) butter I lb. (2 cups) sugar IO eggs 11/4 lbs. (5 cups) flour 3 ozs. (3 heaping tablespoonfuls) blanched and halved pistachio nuts 1/4 lb. (1/2 cup) preserved cherries I gill (1/2 cup) cream 2 teaspoonfuls baking powder I teaspoonful pistachio extract