In large bowl, combine 1 1/2 cups flour, sugar, undissolved yeast and salt. Heat milk, water and butter until very warm (120? to 130?F); stir into dry ingredients. Stir in eggs and enough remaining flour to make stiff batter. Cover; let rest 10 minutes.
Stir batter down and beat well for about 30 seconds. Spoon into greased 12-cup tube pan. Cover; let rise in warm, draft-free place until doubled in size, about 1 hour.
Bake at 325?F for 35 to 40 minutes or until done. Cool 5 minutes in pan. Turn out onto rack to complete cooling.
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