Preheat oven to 350°F. Grease and flour a 9x13 inch baking pan.
In a large bowl, cream together butter and sugar with a mixer. Stir in apples.
In another bowl, sift together flour, baking soda, cinnamon, allspice and salt. Stir into apple mixture.
Stir in walnuts and raisins. Spread batter into baking pan. Bake for 40 minutes.
In small saucepan, stir together 1 tbsp butter, orange peel and juice and sugar. Bring to a boil over medium heat. Reduce heat and simmer until the sugar is dissolved.