Preheat oven to 325 degrees F.
Beat butter at medium speed for 2 minutes. Gradually add sugars and beat 5-7 minutes. Add eggs one at a time beating until yellow disappears. Combine milk, rum and vanilla. In large bowl combine flour, baking powder and salt - add to batter mixture, alternating with milk mixture - beginning and ending with flour mixture. Beat at low speed just until blended. Fold in pecans.
Pour into Bakers Joy sprayed large 12 cup bundt pan.
Bake for 1 hour and 20 minutes.
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