Dissolve yeast in 1 cup warm water, stirring well; let stand 5 minutes or until bubbly.
Sift flour, sugar, and salt into a large bowl. Cut in lard until mixture resembles coarse meal. Add dissolved yeast to dry ingredients; stir well. Add remaining warm water; stir well.
Turn dough out onto a lightly floured surface; knead 10 minutes or until smooth and elastic. Place dough in a greased bowl, turning to grease top. Cover and let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk.
Punch dough down, and turn out onto a floured surface. Knead dough 3 to 4 times or until smooth and elastic. Cover; let rest 10 minutes.
Divide dough into 4 equal portions, shaping each portion into a loaf. Place in 4 greased 7 1/2- x 3- x 2-inch loaf pans. Cover and repeat rising procedure 40 minutes or until doubled in bulk. Bake at 400° for 45 minutes or until loaves sound hollow when tapped. Remove bread from pans immediately; cool on wire racks.