Steps:
- Preheat oven to 325. Grease and flour a 10" tube or 12 cup bundt pan. Sprinkle nuts over bottom of pan. Mix all cake ingredients together. Pour batter over nuts. Bake 1 hour. Cool. Invert on serving plate. Prick top and sides with a fork. Drizzle and smooth glaze evenly over top and sides. Allow cake to absorb glaze. Repeat till glaze is used up. Glaze: Melt butter in saucepan. Stir in water and sugar. Boil 5 minutes, stirring constantly. Remove from heat. Stir in rum. Note: I put strips of waxed paper under and along outside edge of the cake. It keeps the plate cleaner when adding the glaze.
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