In large bowl, combine 1 1/2 cups all purpose flour, 1/2 cup sugar, salt, cinnamon, nutmeg and yeast; mix well. In medium saucepan, heat milk, water and oil until very warm (120 to 130°F.). Add warm liquid to flour mixture; blend at low speed until moistened. Beat 3 minutes at medium speed. By hand, stir in whole wheat flour, rolled oats, raisins and an additional 1/4 to 3/4 cup all purpose flour until dough pulls cleanly away from sides of bowl.
On floured surface, knead in remaining 1/4 to 3/4 cup all purpose flour until dough is smooth and elastic, about 5 minutes. Place dough in greased bowl; cover loosely with greased plastic wrap and cloth towel. Let rise in warm place (80 to 85°F.) until light and doubled in size, 20 to 30 minutes.
Grease two 9x5 or 8x4-inch loaf pans. Punch down dough several times to remove all air bubbles. Divide dough in half; shape into loaves. Place in greased pans. Cover; let rise in warm place until light and doubled in size, 30 to 45 minutes.
Heat oven to 375°F. Uncover dough. Bake 40 to 50 minutes or until loaves are deep golden brown and sound hollow when lightly tapped. If loaves become too brown, cover loosely with foil during last 10 minutes of baking. Immediately remove from pans; cool on wire racks for 1 1/2 hours or until completely cooled. Brush tops of loaves with margarine; sprinkle with 1 teaspoon sugar.