In a large bowl, dissolve yeast in warm water. Add the sugar, shortening, egg, salt and 1 cup of flour. Beat until smooth. Stir in enough remaining flour to form a soft dough.
Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes. Place in a greased bowl, turning once to grease top. Cover and let rise in a warm place until doubled, about 1 hour.
Punch dough down. Turn onto a lightly floured surface; shape into 1-1/2-in. balls. Dip the balls in butter and arrange evenly in a greased 9-in. fluted tube pan. Drizzle with remaining butter. Cover and let rise in a warm place until doubled, about 45 minutes.
Bake at 350° for 30-35 minutes or until golden brown. Cool for 5 minutes before inverting onto a serving platter. Serve warm. Yield: 1 loaf (16 slices).