Using a 9" by 13" glass baking dish, put enough slices of bread to entirely cover the bottom of the dish. Cover the bread with slices of bacon or ham. Lay slices of cheese on top of bacon and then cover with slices of bread to make like a sandwich.
Beat the eggs, salt and pepper, dry mustard, onion, green pepper, Worcestershire sauce, milk and Tabasco sauce. Pour over bread. Cover and put in the refrigerator overnight.
In the morning, melt 1/4 lb butter. Mix with the cereal and pour over top of the casserole.
Bake uncovered for one hour at 350 degrees. Let stand for 10 minutes before serving.