Black Walnut Pound Cake

1 cup butter, softened
1/2 cup shortening
3 cups granulated sugar
5 eggs
3 cups all-purpose flour
1/2 teaspoon baking powder
1 cup milk
1/2 teaspoon vanilla extract
1/2 cup black walnuts, chopped

Beat butter and shortening at medium speed with electric mixer about 2 minutes or until soft and creamy. Gradually add sugar, beating at medium speed 5 to 7 minutes.

Add eggs, one at a time, beating just until yellow disappears. Combine flour and baking powder; add to creamed mixture alternately with milk, beginning and ending with flour mixture. Mix just until blended after each addition. Stir in vanilla extract and walnuts. Pour batter into a greased and floured 10-inch tube pan. Bake at 325 degrees F for 1 hour and 30 minutes or until a wooden pick inserted in center comes out clean. Cool in pan 10 to 15 minutes; remove from pan, and let cool completely on a wire rack.