In a large bowl mix sugar and butter, lemon extract, and eggs. In separate bowl mix sifted flour, baking powder and salt. add butter mixture to flour alternating with milk. Stir just enough to blend. Fold in lemon peel and pecans. Pour batter into a greased and floured 9x5in loaf pan. bake 350 for 1 hour. Poke holes in top at 1 in intervals. while loaf is still warm drizzle with glaze over tops and sides. Wrap in foil and store for 1 day before slicing.
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