1. Preheat oven to 325F. Grease and flour a 6-8 cup tube or bundt pan.
2. Sift together flour, cornmeal, salt and nutmeg. Beat butter, shortening and sugar in a mixer until fluffy. Add eggs, beating well after each addition. Add vanilla. Gradually add flour to creamed mixture beating just until batter is blended. Scrape into prepared pan. Bake 45-55 minutes or until toothpick inserted in center comes out clean. Let cool in pan 10 minutes. Invert onto rack Dust with powered sugar. Serves 12-16.