Preparation - In a large bowl, mix the butter and sugar together until light and fluffy. Add the eggs, one at a time, beating well after each addition. Mix in the applesauce and molasses. In a separate bowl, mix the flour, baking powder, salt, cinnamon and nutmeg together. Add the dry ingredients to the other mixture. Stir in the raisins and nuts. Pour the batter into a greased 9" loaf pan. Bake in a preheated oven at 350º for 1 hour, or until a toothpick inserted in the center comes out clean. Let cool for about 15 minutes in the pan, then remove form the pan and cool on a wire rack.