Preheat oven to 325 degrees. Butter Frankfort Ring mold.
Sift together the dry ingredients.
Add eggs, oil, sugars, and vanilla. Stir until combined.
Add zucchini and walnuts, and mix well.
Pour batter into prepared pan.
Bake 50-60 minutes, or until tester inserted in the middle of cake comes out clean.
Allow cake to cool in pan 5-10 minutes, then remove from pan to finish cooling on wire rack.
Sprinkle with powdered sugar or glaze.
Glaze: While beating, add water to sugar a few drops at a time until the glaze is just thin enough
to pour. Pour it over the cake and let it dribble down the sides.