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Preheat oven to 325 degrees F.
Combine sugar and oil and beat well. Add eggs, one at a time. Sift dry ingredients and stir into egg mixture. Beat in apples, nuts and vanilla extract. Pour into a buttered springform tube pan and bake for 1 hour or until a wooden pick inserted in the center comes out clean.
Glaze
1 cup dark brown sugar
1/4 pound butter
1/2 cup heavy cream
Combine ingredients and boil for 3 minutes. Reserving 1/3 cup, pour over the hot cake. Cool and remove from pan. Just before serving, pour remaining Glaze over.