In a large mixing bowl, CREAM butter and sugar until light; ADD eggs and both extracts; BEAT well.
In a separate bowl, COMBINE flour, baking powder and salt; ADD to butter mixture; BEAT well.
FOLD in cranberries and nuts.
CHILL dough for 1/2 hour.
DIVIDE dough into equal portions, each making a loaf about 6 x 12 and 1" thick; SHAPE into loaves.
PLACE loaves on a greased baking sheet; BAKE at 350° until toothpick inserted in middle comes out clean, about 30 minutes.
COOL completely on wire racks.
Using a serrated bread knife, SLICE each loaf on the diagonal into 1/2" slices.
PLACE on ungreased baking sheets; BAKE at 350° for 2-3 minutes per side.
Per Serving (excluding unknown items): 140 Calories; 6g Fat (37.2% calories from fat); 3g Protein; 20g Carbohydrate; 1g Dietary Fiber; 28mg Cholesterol; 98mg Sodium. Exchanges: 1/2 Grain(Starch); 0 Lean Meat; 0 Fruit; 1 Fat; 1/2 Other Carbohydrates.