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heat oven to 350°F. grease two 8 x 1-1/2-inch round cake pans; set aside.
combine flour, sugar, baking powder and salt in a medium mixing bowl. cut in shortening until crumbly. reserve 1 cup crumb mixture for topping.
stir together eggs, milk and vanilla. add to remaining crumb mixture. stir just until moistened. (batter will be slightly lumpy.) spread batter evenly in prepared pans.
combine reserved crumbs and chopped nuts. sprinkle evenly over batter. bake at 350°F about 25 minutes or until edges are lightly browned and toothpick inserted in center comes out clean. do not over bake. cool on wire rack. serve warm or cool.