Cream butter and sugar. Sift together dry ingredients; add eggs, flour mixture and buttermilk, alternately, beating well after each addition. Add lemon extract and again beat well. Pour into greased and floured tube pan. Bake at 325 degrees F for 1 hour and 15 minutes.

Glaze: Heat milk and butter; pour over sugar. Stir until smooth. Add lemon juice and rind. Pour over warm cake and let run down sides.