Beat together oil and 1 1/2 c sugar, blend in vanilla, lemon juice and peel. Add egg yolks, one at a time, blending just until smooth after each addition. Sift together the dry ingredients, add alternately to creamed mixture with the buttermilk. Beat the egg whites until frothy, gradually beat in remaining 3/4 c sugar, beating well until whites hold very firm peaks. Fold egg whites into batter. Spoon batter into 10inch tube pan that has been greased and dusted with finely rolled dry bread crumbs. Bake at 350 degrees 1 1/4 hours. Cool remove from pan and serve with lemon sauce.
Lemon Sauce-
Combine all ingredients and cook over medium heat stirring constantly, just to a full boil. Remove form heat and cool to serve.
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