Peel, core and thinly slice the apples (should have about 12 cups). In a very large skillet, melt the 14 cup butter over medium heat. Stir in the 12 cup powdered sugar, cinnamon and lemon peel. Add the apple slices and cherries or cranberries, stirring to coat. Cook apple mixture, uncovered, over medium heat for 15 to 20 minutes or till apples are tender and mixture is very thick, stirring occasionally (apple mixture must be thick or itll make bread soggy). Stir in nuts; set aside.
Lightly butter a 2-quart soufflé dish or casserole. Lightly dust with powdered sugar; set aside.
Trim the crusts from the bread; discard crusts and end pieces (or save for another use). Halve the bread slices diagonally to make triangles. Generously brush the bread triangles on both sides with melted butter. Line the bottom of prepared dish with some of the bread triangles by fitting the pieces close together and overlapping slightly (about 14 inch), carefully arranging and trimming as needed (reserve the trimmings). Completely line the side of the bowl with some of the remaining bread triangles, overlapping as necessary. Fit reserved trimmings into open spaces.
Fill the prepared charlotte with the apple mixture. Completely cover apple filling with the remaining bread triangles, overlapping and fitting reserved trimmings into any open spaces. Bake, uncovered, in a 425 degree F. oven for 20 to 25 minutes or till heated through and golden brown. Remove from oven; cool about 30 minutes. Loosen sides and invert onto a large dish. (Be sure the serving dish has a slight lip to catch any juice and/or filling. And, dont unmold the charlotte till its ready to serve).
To serve, dust with additional powdered sugar just before serving. Serve with ice cream, if you like. Makes 12 servings.