Preheat oven to 350. Grease and flour a 10″ tube pan. In large mixing bowl, cream butter and sugar together until fluffy. Beat in one egg at a time. Sitr in applesauce and vanilla.
In a medium bowl, sift together flour, cinnamon, nutmeg, and baking soda. Gradually add flour mixture to applesauce mixture and blend thoroughly. Pour batter evenly into tube pan. Bake for 1 hour and 10 minutes or until a cake tester comes out clean. Cook in pan for 15 minutes. Turn out on rack to cool.
Heat in saucepan until golden brown color.