Combine flour, dry milk, salt, vegetable oil, yeast, water and preserves in the bowl of an electric stand mixer fitted with a dough hook.
Mix into a dough and continue mixing, adjusting water or flour by small amounts if necessary to achieve a smooth dough.
Add dried cranberries, raisins and cherries and mix/knead just until those are incorporated throughout the dough.
Turn out dough and place into a lightly greased stainless mixing bowl.
Cover lightly with plastic or a cloth and proof in a warm draft-free place at 100F. for one hour or until dough has doubled in size. The doubling is more important than the time, so if it hasn't risen enough, keep proofing.
Punch down dough and shape into a loaf; place in a greased 9x5x3-inch loaf pan. Cover lightly and continue to proof for 30-60 minutes or until doubled again.
While proofing, preheat oven to 350F.
When the dough is ready, bake for about 30 minutes or until the bread probes with an instant read thermometer to an inner temperature of 200F.
Turn bread out of the pan and cool on a wire rack.