Grease a round tube cake pan and sprinkle lightly with flour. Sprinkle walnuts at bottom of pan.
In a bowl, cream butter. Add eggs, yellow cake mix, water and rum.
Beat at moderate speed for 4 minutes.
Pour batter into pan and bake, about 45 minutes, or until toothpick, inserted the center of the cake comes out clean.
Set pan on wire repack for 10 minutes.
Remove from pan.
Syrup:
In a saucepan, melt butter. Add water and sugar.
Boil.
Reduce heat to low and boil for 5 minutes.
Turn off the heat.
Add the rum.
Pour syrup over cake.
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