Source: Mary Spidell, The Cozy Kettle, Pollack Pines
8 eggs, beaten
4 cups milk
1 tablespoon cinnamon
1-1/2 teaspoons nutmeg
1/2 cup granulated sugar
3/4 teaspoon baking powder
1 loaf bread
Mix all ingredients together except bread and caramels.
Tear bread into pieces. Place 1/2 of bread of pieces in well-greased pan.
Arrange caramel pieces on bread pieces. Cover with remaining bread pieces.
Pour egg/milk mixture over bread. Pat down to moisten.
Bake at 325 degrees F for 45 minutes.
Serve warm or cold.