Beat egg whites to form moist peaks. Gradually beat in 1/4 cup white sugar and salt. Beat until very stiff and shiny.
Beat egg yolks and 1/4 cup white sugar together until very light and fluffy. Beat in molasses, grated lemon rind and lemon juice. Stir in cake flour. Fold meringue gently into batter. Pour batter into an ungreased 9 inch tube pan.
Bake for 45 minutes. Remove cake from oven, and invert until cool. Loosen edges, and remove cake from pan.