Step 1

Preheat oven to 325 degrees. Grease and flour (or line with parchment paper) two 8x4-inch loaf pans; set aside. In a large mixing bowl, cream sugar and oil; add eggs, vanilla and almond extract and beat well. In a separate bowl, whisk together flour and baking powder. Measure out 1/2 cup of the reserved maraschino cherry juice. If juice does not equal 1/2 cup, add enough water to make up the rest. Alternately add the flour mixture and cherry juice to the sugar mixture until it is just combined. Stir in the chopped cherries.

Step 2

Divide batter evenly between both loaf pans. Bake for about 45 minutes or until a toothpick inserted in the center comes out clean. Remove from oven and cool in pan for 10 minutes, then invert to a wire rack and cool completely. Dust tops of bread with powdered sugar, if desired, slice and serve. Makes: 2 loaves.