From Betty Crocker 1st edition cookbook.
Grease and flour 2 9 in. layer pans or a 9x13 oblong pan. Preheat oven to 350 degrees.

Sift together:
2 1/4 cups cake flour or
2 1/8 cups all purpose flour

1 1/2 cups sugar
3 tsp. baking powder
1 tsp. salt

Add:
1/3 cup soft shortening
1/3 cup peanut butter (not oily)
1 cup milk

Beat 2 minutes.

Add:
2 eggs and beat 2 minutes.

Pour into prepared pans. Bake. Cool.

Frost with Peanut Butter Broiled Icing for oblong and Peanut Butter Fudge Frosting for layer.

Peanut Butter Broiled Icing:
Mix together:
2/3 cups brown sugar
4 tbsp. soft butter
4 tbsp. cream
4 tbsp. peanut butter
Add:
1 cup chopped pecans

Spread on cold cake, place under the broiler on low heat and broil until mixture browns.

Peanut Butter Fudge Frosting:

Combine and stir in saucepan:
1 cup sugar
1 cup brown sugar
2/3 cup cream
Cook to the soft ball stage or 234 degrees.

Let cool and add 1/3 cup peanut butter and 1 tsp. vanilla extract.