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Cream together the butter and sugar well.
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Add the eggs, one at a time, beating well after each addition until light and fluffy.
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Blend in the vanilla and lemon extracts.
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Sift together the cake flour and baking powder.
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Fold dry ingredients into the creamed mixture alternately with the evaporated milk beginning and ending with the dry ingredients.
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Fold in the chopped cherries and chocolate chips.
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Bake in greased and floured mini loaf pans or in paper lined muffin tins. Bake at 325 degrees F for 25-30 minutes or until a toothpick inserted in the center comes out clean.
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Muffin sized cakes will take only about 15 to 20 minutes. Watch them carefully so they don't over bake.