Wash and dry raisins. Cut peel in paper-thin strips. Blanch almonds, and slice lengthwise. Slice cherries in half. Combine fruit and nuts in large bowl, and add 1/2 cup of the sifted flour; mix until fruit is well coated.
Grease and line cake pans with 3 layers of heavy waxed paper, or 2 layers brown paper. These round pans are at least 3 inches deep. The small pan is 6 inches across, and the medium size pan is 9 inches across. Grease again. Preheat oven to 275 degrees F (135 degrees C).
Cream butter until fluffy; add extracts and lemon rind. Gradually add sugar, mixing until creamy. Beat eggs until light and lemon-colored, and add into creamed mixture. Beat together well.
Sift together remaining 2 cups flour with the baking powder and salt. Add these dry ingredients alternately with fruit and nut mixture, folding in gently until well combined. Stir in lemon juice.
Turn batter into prepared cake tins, filling 2/3 full and spreading batter evenly. Bake small cake for 1 1/2 hours, and the medium size cake for 2 hours. Remove from oven. Allow to stand in tin 5 minutes. Turn cake out on wire cake rack to cool.