The first time I made this cake, my husband complained about there being so much cake that we would not be able to eat it all. I told him I was giving 1/2 of it away. After he ate the first piece, I had to talk him into letting me give 1/2 of it away.
In a small saucepan, combine brown sugar and 1/2 stick (4 tabs.) butter; melt, stirring to combine. Spread on bottom of 9" X 3" deep round cake pan.* Arrange peaches over brown sugar in concentric circles.
In a small bowl, combine flour, baking powder, cinnamon and cloves. In a large bowl, beat remaining 1 1/2 sticks butter with sugar until creamy. Beat in egg yolks. Alternately beat in flour mixture with milk and vanilla untill well blended. In a small bowl, beat egg whites to stiff peaks. Fold egg whites into batter. Carefully spread over peach slices. Bake for 55-60 minutes @ 350 or until a cake tester comes out dry. Cool on rack 10 minutes. Turn cake onto plate.
*Cake can also be made in a 9" springform pan. I used my 10" black iron skillet and it worked just fine.