Preheat oven to 325 degrees F.
Cream butter and Crisco shortening. Add brown sugar, and cream ingredients. Add white sugar, and cream until fluffy. Add eggs one at a time.
Mix dry ingredients together. Set aside 2 tablespoons of flour mixture to toss with nuts. Add flour mixture alternately with milk, beginning and ending with flour. Add vanilla. Stir in nuts.
Bake at 325 degrees F. for approximately 1 hour and 30 minutes. Cool cake in pan for 15 minutes before turning out. Ice while warm.
In a saucepan, combine first three ingredients. Boil, stirring frequently, until mixture reaches soft ball stage, 235 degrees F. Pour hot mixture over stick of butter in mixer bowl. Stir to melt. Beat until ready to spread.
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