Preheat the oven to 325 degrees Fahrenheit.Generously greased and floured in a 12C skillet or 10 inch tube pan.In a large bowl, combine flour, 2 cups sugar, salt, baking powder and club soda, milk, 1 cup butter, 2 teaspoons vanilla and eggs. beat on low speed until moistened. Increase mixer speed to medium and beat for 3 more minutes. Put the mixture in the cake pan and spread it evenly.Bake the cake in the preheated oven for 55 to 65 minutes, or until a toothpick inserted in the center comes out clean.Meanwhile, in a small saucepan over medium heat, combine 3/4 cup sugar, 1/3 cup butter, 3 tablespoons water and 2 teaspoons vanilla; Cook, stirring, until the butter melts. Do not bring the mixture to a boil.Remove cake to wire rack and pierce with fork or skewer while still in pan. Pour the hot butter sauce over the hot cake.