Scald milk, water, and butter; before it boils, add sugar and salt.
Keep stirring so it does not burn.
Cool.
When lukewarm, add slightly beaten eggs and yeast.
Keep beating until smooth; add flour gradually and work until all four is used; if sticky, add more flour.
Butter bowl; put batter in it and cover.
Let rise and work once more; let rise again.
Roll out 1/2 inch thick and cut with doughnut cutter; let rise 1/2 hour.
Fry in 350 degree oil until lightly brown and roll in sugar or dust with powdered sugar.