Preheat the oven to 325°F. Butter a 8 1/2 x 4 1/2 x 2 1/2-inch loaf pan with the shortening and flour with 2 teaspoons of the flour, tapping out the excess.
Sift the remaining 2 cups flour, the baking powder, and salt into a medium bowl.
Cream the butter and sugar in a medium bowl with an electric mixer on high speed, scraping down the sides of the bowl as needed, until light and fluffy, about 3 minutes. On low speed, in three additions, beat in the flour, alternating with 1 egg at a time, scraping down the sides of the bowl as needed. Beat in the vanilla just until blended. Spread evenly in the prepared pan.
Bake until the cake is golden brown and a cake tester or toothpick comes out clean, about 1 hour and 10 minutes. Cool on a wire cake rack for 10 minutes.
Turn the cake out onto the rack, turn right side up, and let cool for at least 30 minutes. Serve warm or at room temperature.
Yield: 8 to 10 servings