Steps:
- Cake: Preheat oven to 325 degrees F. Grease and flour 12-cup Bundt pan. Sprinkle nuts on bottom of pan. Combine all cake ingredients. Beat for 2 minutes on high with electric mixer. Pour into prepared pan. Bake for 1 hour. Cool in pan. Invert on serving plate. Prick top with fork. Drizzle glaze over top of cake. Use brush or spoon to put extra dripping back on cake. Glaze: Melt butter in saucepan. Stir in water and sugar. Boil 5 minutes, stirring constantly. Remove from heat and stir in rum. Note: The rum will cause steam. Be careful not to burn yourself. It stays moist a long time. The longer this cakes sits, the better the taste. This cake freezes beautifully.
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