Ingredients:

1-1/2 cups vegetable oil
1-1/2 cups sugar
1/2 cup packed brown sugar
3 eggs
3 cups all-purpose flour
2 teaspoons ground cinnamon
1/2 teaspoon ground nutmeg
1 teaspoon baking soda
1/2 teaspoon salt
3-1/2 cups diced peeled apples
1 cup chopped walnuts
2 teaspoons vanilla extract
CARAMEL ICING:
1/2 cup packed brown dugar
1/3 cup light cream
1/4 cup butter or margarine
Dash salt
1 cup confrectioners'sugar
Chopped walnuts, optional

Directions:

In a mixing bowl, combine oil and sugars.
Add eggs, one at a time, beating well after each addition.
Combine dry ingredients; add to batter and stir well.
Fold in apples, walnuts and vanilla.
Pour into a greased and floured 10-in. tube pan.
Bake at 325 degrees for 1-1/2 hours or until cake tests done.
Cool in pan 10 minutes; remove to a wire rack to cool completely.
In the top of a double boiler over simmering water, heat brown sugar, cream, butter and salt until sugar is dissolved.
Cool to room temperature.
Beat in confectioners' sugar until smooth; drizzle over cake.
Sprinkle with nuts if desired.
Yield: 12-16 servings.