Preheat oven to 350 degrees.

In a small bowl, combine flour, baking powder, and salt; set aside.

In a large bowl, combine butter and confectioner's sugar; cream well.

Add eggs, one at a time, beating well after each addition.

Stir in almond extract.

Blend in flour mixture alternating with milk.

Fold in maraschino cherries and nuts.

Spoon batter evenly into a well-greased and floured tube pan (10" will work but better if a little smaller).

Bake 55 minutes.

Cool for 5 minutes.

Brush melted butter on the top of the cake and sprinkle with a cinnamon sugar mixture (amount depends on how thick a cinnamon sugar mixture you'd like. I put a lot of butter on top so that I can get a nice layer of cinnamon sugar).

Cool 20 minutes and carefully remove from pan so as not to disturb your cinnamon sugar topping.

Cool completely.