1. In a mixing bowl, cream butter and sugar. Add the egg and applesauce; mix well.
2. Combine flour, baking soda, cinnamon, nutmeg, salt and cloves. Gradually add to the creamed mixture just until combined. Fold in raisins and nuts.
3. Pour into a greased loaf pan. Bake at 350 degrees for 50-55 minutes or until a toothpick inserted near the center comes out clean. Cool for 10 minutes before removing from pan to a wire rack.