Grease a tube pan & set aside. In a bowl, combine candied peel, water & extracts; set aside. In a large bowl, combine flour, sugar, almonds, baking powder, salt, & spices. Cut in butter until it resembles fine crumbs.
Preheat oven to 350 F. To candied peel mixture, add cottage cheese, eggs, lemon zest & raisins. Combine well with flour mixture. Arrange scoops of stollen batter into tube pan. Bake about 40-45 minutes or until test done. Cool on wire rack. Dust with powdered sugar.