In a large mixing bowl, add sugar, and butter, and beat on medium speed with an electric mixer for 2-3 minutes.
Add on egg at a time, mixing thoroughly before adding another egg.
Reduce the speed to slow, and Add flour and milk alternately, beginning and ending with flour. Mix just until blended after each addition. Stir in extracts.
Pour into a greased and floured 10-inch tube pan. (Use vegetable shortening or butter to grease the pan, getting every nook and cranny covered. Sprinkle a light coating of flour over the greased surface.)
Bake at 300° for 90 minutes or until a inserted butter comes out clean from the center of the cake.
Remove from the oven and let cool in pan for 10-15 minutes.
Remove from pan, and let the cake cool completely on a wire rack.