In a medium-size shallow bowl whisk together the eggs, milk, cinnamon, nutmeg and vanilla.
Melt enough butter to just cover the bottom of a 10-12 inch skillet over medium heat. Dip 2 slices of raisin bread in the egg mixture and place in the hot pan. Cook until golden brown on each side. Hold slices in a warm oven while the others are cooking. Repeat this step with remaining slices of bread.
Serve 2 slices per person spreading Applesauce between the French toast. Top with butter and warm maple syrup.