Dissolve yeast in warm water, stirring well. Let stand 5 minutes or until bubbly.
Cream butter in a medium mixing bowl; gradually add sugar, beating well. Add eggs and salt, beating until smooth. Add 1 1/2 cups flour to creamed mixture; beat well. Stir in milk and dissolved yeast, mixing well. Gradually stir in remaining flour to make a soft dough.
Cover and let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk. Stir dough down; spoon batter into a well-greased 10-inch Bundt pan. Cover and repeat rising procedure 30 minutes or until doubled in bulk.
Bake at 325° for 10 minutes. Increase temperature to 375°; bake 20 minutes or until golden brown. Cool in pan 10 minutes. Remove from pan, and place on wire rack to cool.