Spectacular Cinnamon Almond Ring

(From Sharron's Grandma Ruth who said it's one that she and my grandfather always loved and was always a successful recipe for her.) 

NOTE: May need high altitude adjustments: decrease fat, sugar, leavening/yeast; increase liquid and flour.

5 ½ to 6 cups all-purpose flour

2 packages active dry yeast (suggest rapid rise)

1 cup milk

½ cup water

½ cup butter or margarine, cut up

3 tbsp sugar

1 tsp salt

2 eggs beaten

2 tsp each finely shredded lemon and orange peel (optional)

1 cup sliced almonds (or substitute walnuts)

6 tbsp butter or margarine, softened

2/3 cup sugar

1 tbsp cinnamon

1 recipe powdered sugar icing

In a large mixing bowl stir together 2 cups flour and the yeast.  In saucepan, heat and stir milk, water, the ½ cup butter or margarine, sugar and salt.  Stir to warm (120-130 degrees), till butter almost melts, add to dry mixture, mix, add eggs, lemon and orange peel.  Beat with electric mixer for 30 seconds, scraping the sides of the bowl constantly.  Beat on high for 3 minutes.  Using a wooden spoon, stir in almonds and as much flour as you can. (I use the walnuts with the last cinnamon and sugar after I have rolled out dough)

Turn dough onto a lightly floured surface.  Knead in enough of the remaining flour to make moderately soft dough, 3-5 minutes.  Put into a greased bowl. Let rise until double in bulk, about an hour.  Turn onto floured board and cover and let set for 15 minutes. 

Roll out dough to a 20X12 rectangle.  Spread with 6 tbsp margarine, sprinkle with the cinnamon and sugar mixture and the walnuts.  Roll up as a jelly roll.  Put roll in a greased Bundt pan, seam side down sealing the two ends together.  Cover and let rise about 45 minutes to about double bulk.

Bake in a 350 degree oven for about 50 minutes until golden brown. Cover loosely with foil if getting too brown last 10 minutes (will rise high).  Invert pan onto a wire rack. Drizzle with the powdered sugar icing. 

Icing:  1 cup sifted powdered sugar, 1 tbsp milk and ¼ tsp vanilla.  Stir in additional milk 1 tsp at a time until icing reaches drizzling consistency.