This is one of my most favorite cakes that my mom used to make when I was growing up. I make this cake often as I love the almond flavor with cinnamon sugar topping and each slice is so pretty with the red cherries and nuts.
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.