Soak the bread in milk for 15 minutes. Beat egg yolk with butter and half the sugar. Add this to the bread mixture. Transfer this mixture into greased baking dish. Bake at 350 degree keeping the dish in a bigger try of water for about 40-45 minutes. Take the dish out, spread the fruits and jam on top. Then beat the egg whites stiff adding rest of the sugar. Spread this on top of the fruit layer. Decorate with split cashew nuts and cherries. Bake for another 10 minutes till the maringue starts browning. Serve hot, or chilled.