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Applesauce Raisin Bread

This recipe was sent to me by an internet friend. It's a really good moist bread and keeps well in the refrigerator if you can keep from eating it all up! Thanks, Sandy.

1 cup applesauce
1/2 cup oil
1/2 cup sugar
1-3/4 cups flour
1 cup raisins
1 egg, slightly beaten
1 teaspoon baking soda
1 teaspoon cinnamon
1/2 teaspoon cloves
1/2 teaspoon salt
1/2 teaspoon nutmeg
1/2 cup chopped nuts (optional)

Preheat oven to 325 deg F. In a large bowl, mix the applesauce, oil and sugar. Add egg. Mix well. Sift together flour, baking soda, salt, cinnamon, cloves and nutmeg. Add to the applesauce mixture. Mix well. Fold in the raisins and nuts. Pour into 8" x 4" loaf pan which has been sprayed with vegetable oil spray. Bake for 1 hour and 20 minutes. Cool on rack for about 30 minutes.