4. Dissolve yeast in water; combine with milk mixture.
5. Stir in half the flour; add eggs; beat well.
6. Add enough of remaining flour to make a soft dough.
7. Turn out on lightly floured board; knead till smooth and elastic.
8. (See recipe for white bread) put in a greased bowl; brush with shortening; cover; let rise in a warm place, 80° to 85° till double in bulk (about 2 hours).
9. Turn out on floured board; roll into a rectangle 8 by 12 inches.
10. Brush with butter.
11. Sprinkle with brown sugar and cinnamon.
12. Roll up like jelly roll; shape into a ring on greased baking sheet; pinch ends.
13. From the outside, cut through the ring toward center almost all the way through in 1- inch slices.
14. Fan out slices slightly to side.
15. Brush with shortening; cover; let rise about 45 minutes or till double in bulk.
16. Meanwhile set oven for moderate 375f.
17. Bake 25 to 30 minutes.
18. While warm spread with confectioners' sugar icing; sprinkle with chopped walnuts.