Soften yeast in the warm water.
Pour scalded milk over butter, sugar, and salt in a large bowl; cool to lukewarm.
Add about 1/2 cup flour and beat until smooth.
Stir the yeast into the batter; mix well.
Add about half of the remaining flour and beat until very smooth.
Add eggs; beat until smooth.
Blend in the remaining flour; beat thoroughly at least 5 minutes.
Scrape down from sides of bowl.
Cover; let rise in a warm place until doubled, about 45 minutes.
When doubled, beat again at least 5 minutes.
Turn into a greased 1 1/2 quart ring mold or Turk's-head mold.
Cover; let rise again until doubled, about 45 minutes.
Bake at 350°F 25 to 30 minutes, or until golden brown.
Run knife around edge of mold to loosen the loaf and gently remove to wire rack.