1. In a round 8 or 9 inch baking pan, stir together the 1/3 cup brown sugar, 2 tablespoons water and 1 tablespoon butter.

2. Over medium heat, bring mixture to boiling, simmer until sugar melts and syrup is smooth.

3. Peel, pit and slice 3 ripe peaches.

4. Arrange slices in syrup in baking pan.  (I like to point them to the center.)

5. Set pan aside while preparing cake batter.

6. Measure together: 1 cup flour, 1 teaspoon baking powder and 1/4 teaspoon salt and set aside.

7. Microwave 1/2 cup milk and 1 tablespoon butter in a glass measuring cup - heat to boiling.

8. In a medium sized bowl, beat 2 eggs with a rotary beater.

9. Gradually add, while beating constantly, the 1/2 cup white sugar and the 1/2 cup brown sugar.

10. Continue beating until thick and well mixed.

11. Add dry ingredients alternately with hot milk mixture.

12. Add 1 teaspoon vanilla.

13. Stir until batter is smooth.

14. Pour batter over peaches in pan.

15. Bake 45 minutes at 350 degrees.

16. Let set 3 minutes.  Loosen edges; invert on serving plate. Serve warm with whipped cream.  Also good cold.