Combine water, butter, sugar, and salt in a medium saucepan; bring to a boil. Stir in cornmeal; boil 1 minute or until thickened, stirring constantly. Remove from heat. Add baking powder, eggs, and milk, stirring until well blended.
Pour batter into a lightly greased 2-quart casserole. Bake at 375° for 50 minutes or until a knife inserted in center comes out clean.