1. Preheat oven to 350°F. Grease 9" by 5" loaf pan. From lemon, grate 1 tablespoon peel and squeeze 4 1/2 teaspoons juice.
2. In large bowl, mix flour, baking powder, salt, and 1 1/2 cups sugar. With pastry blender or 2 knives used scissors fashion, cut in butter or margarine until mixture resembles coarse crumbs. Stir in lemon peel. In small bowl, beat eggs slightly; stir in milk. Stir egg mixture into flour mixture just until flour is moistened; spoon evenly into pan.
3. Bake 1 hour and 15 minutes or until toothpick inserted in center comes out clean. Cool in pan on rack 10 minutes; remove from pan.
4. In 1-quart saucepan over medium-high heat, heat lemon juice and 2 tablespoons sugar to boiling. Cook, stirring frequently, until mixture thickens slightly, about 5 minutes. With pastry brush, brush sugar mixture evenly over top of bread. Finish cooling bread on wire rack.