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Bring shortening, butter, or margarine, eggs, milk, and orange and maraschino cherry juices to room temperature approximately 25-30 minutes before preparing batter.
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Remove cherries from their juice and, using paper towel, blot them dry. Cut up cherries and blot again on paper towel to remove the excess moisture. Set aside.
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Preheat oven to 350°F. Grease 9”x5”x3” loaf pan.
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In 1-cup measuring cup, or small bowl, combine the milk, orange juice, cherry juice, vanilla, and almond flavouring. Stir to mix.
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In medium-sized bowl, combine the flour, baking powder, baking soda, and salt. Whisk together well.
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In bowl of stand mixer fitted with paddle attachment and on low speed, cream the shortening, butter, or margarine well. Gradually add the granulated sugar, then the brown sugar. Increase mixer speed to medium and beat until ingredients are pale-colored and mixture has an airy/fluffy texture. Stop mixer, as necessary, to scrape bowl with rubber spatula to ensure the ingredients are evenly incorporated.
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Add the eggs, one at a time, beating well after each addition and using the spatula, as necessary, to scrape sides of bowl.
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Add the flour mixture alternately with the milk mixture, starting and ending with the dry ingredients (three additions of dry ingredients with two additions of wet ingredients). Periodically scrape sides of bowl with spatula to ensure all ingredients are combined. Do not overmix.
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Remove bowl from mixer stand and stir in the cherries by hand, just until they are blended in.
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Transfer batter to prepared pan and, using a knife, smooth the top of the loaf. Bake for approximately 1 hour or until cake tester inserted into center of loaf comes out clean. If loaf starts to brown, it may be loosely tented with tin foil after about 45 minutes of baking; ensure loaf top is completely set before allowing the tin foil to touch it as it will peel off the top of the loaf. Let loaf rest in pan for 10 minutes then turn out on to wire rack to cool completely before cutting.