Stir 2 cups of flour and the yeast together in a large mixing bowl. Heat the milk, water, 1/4 cup sugar, oil and salt in a saucepan over very low heat until very warm, (120-130 degrees F.). Ad the liquid mixture to the flour-yeast mixture. Beat, with an electric mixer at medium speed, until smooth, about 3 minutes. Blend in the egg and then stir in the raisins. Gradually stir in enough of the remaining flour to make a moderately soft dough, (It will be slightly sticky and light in weight). Turn the dough out on a lightly floured surface, adding flour if needed as you knead the dough, and knead until smooth and satiny about 10 minutes. Cover the dough with the bowl and let rest for 20 minutes. Combine the 1 cup of sugar and the cinnamon, then set aside. Punch the dough down and divide in half. Roll out one half, on the floured surface, to a 14 X 7-inch rectangle. Brush with the melted butter and sprinkle with half of the cinnamon-sugar mixture. Beginning at the narrow end, roll up tightly like a jelly roll. Press the edges to seal and fold the ends under. Place in a greased 8 1/2 X 4 1/2 X 2 1/2-inch loaf pan. Repeat for the second half. Brush the tops of the loaves with the remaining butter. Cover and let rise in a warm place until doubled, about 45 minutes. Bake in a preheated 375 degree F. oven for 35 to 40 minutes or until the loaves sound hollow when tapped. Remove from the pans immediately and cool on wire racks.