Preheat oven to 350 degrees Fahrenheit. Butter and flour a bundt pan.
Cream together sugar and butter. Add rum, vanilla, and eggs, continuing to mix well.
Add dry ingredients and milk. Mix until well blended and smooth.
Pour into bundt pan and bake for 40 to 50 minutes or until a toothpick, skewer, or fork inserted into the middle comes out clean.
Let it cool in the pan for ten or fifteen minutes and then invert it on a serving plate.