|Beat butter at medium speed, gradually add oil, beating until well blended. Gradually add sugar. Add eggs 1 at a time. Add flour to creamed mixture alternately with milk, beginning and ending with flour. Mix just until blended after each addition. Stir in lemon extract. |
Pour batter into a greased and floured 10-inch tube pan. Bake at 300 degrees for 90 minutes or until wooden toothpick comes out clean.
Cool in pan on a wire rack for 15 minutes. Remove from pan.
Mix glaze ingredients until dissolved. Brush on sides of cake, spoon over top a little at the time. Let cake cool before slicing.