Cream butter; gradually add sugar, creaming until light. Add eggs, beating well after each addition.
Sift together dry ingredients. Add alternately to creamed mixture with applebutter. Stir in raisins and nuts.
Turn into greased and lightly floured 9x13 inch pan. Bake at 350 degrees for 45 minutes or until tests done. Cool in pan.
When cool, dust with sifted powdered sugar, if desired.