In a wide saucepan, combine the 1 cup of milk, 1/4 cup butter, sugar and salt. Place over medium heat and stir until butter is melted. Transfer to large mixing bowl to cool.
When the mixture is barely warm to the touch, stir in dissolved yeast and beaten egg. Add 2 cups of the flour and beat with a wooden spoon until smooth.
Gradually blend in additional flour until the dough becomes too difficult to stir. Turn out onto floured surface and knead in as much of the remaining flour as necessary to form a cohesive dough.
Continue kneading in flour until the dough is soft yet no longer sticks to the work surface. Transfer to a greased bowl and cover with a clean kitchen towel. Set aside to rise until double in bulk.
In a small bowl, whisk together the brown sugar and cinnamon. Melt the remaining 1/4 cup of butter and set aside. Generously grease a 9x13 inch baking dish.
Punch dough down and turn out onto floured surface. Roll into a 12x18 inch rectangle. Trim the edges to square off the rectangle. Lift the dough to loosen it from the work surface. Brush the melted butter over the surface of the dough.
Sprinkle on the brown sugar and cinnamon. Scatter raisins over the sugar.
Starting on the long side, roll the dough up. Pinch the edges together to seal the seam.
Using a serrated knife, cut the roll into 18 1-inch pieces. Place, cut side down, in the prepared baking dish. Cover and set aside to rise.
When double in bulk, bake in a pre-heated 375* oven for 20 to 25 min, or until nicely browned.
Place on a rack to cool for 20 minutes.
Combine the confectioner's sugar and cold milk in a small bowl and blend until smooth. Brush over the surface of warm rolls with a pastry brush.