1. Measure the milk into a small saucepan and warm it over medium-low heat. Turn off the heat.
2. Measure the warm water into a small bowl. Add the yeast and stir. Then stir the warm milk into the the yeast and water.
3. Measure the butter and sugar into a large bowl. Stir together with a spoon until creamy. (I prefer an electric mixer)
4. Crack 1 egg into the large mixing bowl and beat the mixture. (I use an electric mixer for that too) Add the second egg and beat the mixture again.
5. Stir the flour and salt together in a medium size bowl.
6. Stir about one cup of the flour mixture into the butter and sugar mixture. Then stir in about 1/3 of the yeast mixture. (I never bother to measure. I just put a little bit of the flour mixture in, and a little bit of the yeast mixture in.)
7. Add more flour and beat the mixture, then add more yeast mixture and beat the mixture. Continue adding the flour and yeast mixture that way, until both the yeast and the flour mixture are gone.
8. Cover the large mixing bowl with a clean towel and let the batter rise in a warm place for 1 hour. When the batter has doubled in size, remove the towel.
9. Use a paper towel and grease a tube pan or round casserole dish with shortening or butter. (I use margarine for greasing the pan)
10. Pour the batter into the greased pan, cover with towel. Let rise for 30 minutes. Preheat oven to 350.
11. Remove the towel and bake the bread on the center oven rack for 40 to 45 minutes. (It really matters how your oven is, in my oven it only takes 30 minutes to cook)
12. Have an adult take the bread out of the oven. Use a butter knife to loosen bread from the sides of the pan. Turn the bread upside down to remove the bread.
13. It's great eaten hot with butter on it, and its also good cold with nothing on it!
Enjoy!