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1
Preheat oven to 350 degrees.
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2
Grease inside of a 10 inch bundt pan with shortening and dust with flour, or spray lightly with cooking spray.
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3
Set aside.
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4
To prepare batter: Sift together the flour, baking powder, baking soda, salt and nutmeg onto a sheet of wax paper and set aside.
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5
Cream butter in the large bowl of an electric mixer on a moderate speed for 3 to 4 minutes.
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6
Add superfine sugar in three additions, beating 1 minute after each portion is added.
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7
Add eggs one at a time, beating about 45 seconds after each is added.
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Blend in vanilla extract.
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9
On low speed, alternately add sifted mixture in three additions with the eggnog in two addtions, beginning and ending with sifted mixture.
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10
Scrape down the sides of the bowl often.
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11
Add rum and beat 30 seconds.
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12
(The batter will be medium thick and very creamy.) Spoon into prepared pan and lightly smooth top with a spatula.
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13
Bake on center oven rack 55 minutes, or until a wooden pick or cake tester inserted in the center comes out clean.
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14
Let cake set in pan on a rack 10 minutes before unmolding onto a rack.
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15
To prepare glaze: While cake is cooling in the pan, place butter, granulated sugar and rum in a nonreactive saucepan.
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Set over low heat and stir until the sugar dissolves.
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Bring to a boil, reduce heat and simmer 2 minutes.
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18
Remove from heat and stir in vanilla.
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19
Place rack with warm cake on a sheet of wax paper.
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20
Spoon glaze over cake in layers, using all of glaze.
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21
Cool completely before wrapping.
