Preheat the oven to 300 degrees F. Use a basting brush to grease a large-pound cake pan with shortening. Dust it with the flour. Shake out any extra flour once the pan is coated.
Use a mixer to beat the butter and cream cheese until light and fluffy.
Add the sugar a cup at a time and beat until well mixed.
Add the eggs one at a time, beating just until incorporated.
Add the salt and vanilla to the batter. Beat until combined.
Sift the cake flour and then add it to a measuring cup with a spoon, leveling it with a knife. Add it to the batter 1/2 cup at a time and beat at low speed until combined.
Pour batter into the prepared pan. Bake for 1 hour and 40 minutes or until a toothpick inserted into the cake comes out clean or with crumbs. If the cake is browning too much, spray a sheet of aluminum foil with cooking spray and cover the top during the last 15-20 minutes of baking.
Cool in the pan for 10 minutes and then turn out onto a cake plate or cooling rack.
Glaze
Beat the cream cheese until smooth. Add the vanilla and salt. Beat well.
Add the sugar 1/2 cup at a time and beat until smooth. Drizzle on top of the cake. If the frosting is too thick, thin with teaspoons of cream until it is thin enough to drizzle.
Notes
Room Temperature Ingredients
Use room-temperature butter, cream cheese, and eggs for this recipe. Remove them from the refrigerator 2 hours before starting the cake.
Use Aluminum Foil To Prevent Over-Browning
Check the cake 15-20 minutes before it has finished cooking. If it is browning too much, place a sheet of aluminum foil sprayed with cooking spray on the top of the cake to prevent over-browning.
Storage
This cake can be kept on the countertop for 3-4 days. It also freezes well.