A half pound of each primary ingredient is what gives this cake its name. Tart cherries and a sweet icing make it perfect to suit any guest's taste.
Let the butter, eggs and milk stand at room temperature for 30 minutes. Grease a 9x5x3-inch loaf pan and line the bottom with parchment paper or waxed paper. Grease paper.
In a bowl, stir together flour, baking powder, and salt. Set aside.
In a large mixing bowl, beat butter with an electric mixer on medium speed for 30 seconds. Slowly add sugar, beating until well combined. Scrape sides of bowl and beat for 2 minutes more.
Beat in milk and vanilla. Beat in the eggs, one at a time, beating thoroughly after each addition. With mixer on low speed, add flour mixture, about 1/2 cup at a time, beating after each addition until just combined. Fold in cherries. Pour into prepared loaf pan.
Bake the cake in a 350 degree F oven for 60 to 65 minutes or until a toothpick inserted in the center comes out clean. Transfer the cake to a wire rack. Cool in the pan for 10 minutes. Loosen the edges of the cake from pan. Remove from the pan and cool thoroughly. Drizzle with a powdered sugar icing, if you like. Serves 10.
Prepare cake as above. Wrap in plastic wrap and store at room temperature for 3 to 4 days or store in the refrigerator for 5 to 7 days.