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1. In a bowl combine warm milk and yeast; let stand about 5 minutes for yeast to soften.
2. In a large bowl combine flour and 1 teaspoon salt. Using a pastry blender, cut in the 1/3 cup butter, shortening, or lard until pieces are the size of small peas. Make a well in center; add yeast mixture and eggs. Stir until all the dough is moistened. Transfer the dough to a lightly greased bowl. Cover and let rise in a warm place until double in size (1 to 1-1/4 hours).
3. Lightly grease baking sheets; set aside. Turn dough out onto a well-floured surface. Knead 10 to 12 times. Roll dough to 1/4-inch thickness. Cut dough with floured round cutters, making twenty-four 2-1/2-inch rounds and twenty-four 2-inch rounds. Place the larger rounds on prepared baking sheets. Brush tops with melted butter. Top each with a smaller round, stacking slightly off-center. Cover and let rise in a warm place 30 minutes.
4. Preheat oven to 400 degree F. Brush tops of biscuits with a mixture of egg yolk and 1 teaspoon milk. Bake for 13 to 15 minutes or until tops are golden. Serve warm. Makes 24 biscuits.