In a bowl, mix 2 cups flour, 2 cups sugar and 1/2 teaspoon salt. In a saucepan, melt 1 stick butter, 1 cup water, 1/2 cup shortening and 3 tablespoons cocoa. Bring mixture to a boil and pour over flour mixture, mixing well. In another bowl, mix two well-beaten eggs, 1 teaspoon soda, 1/2 cup buttermilk, and 1 teaspoon vanilla. Add this to mixture and stir well. Bake in a greased and floured 15 inch by 11 inch pan at 350 for 20 minutes.
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Prepare icing by melting 1 stick butter, 4 tablespoons cocoa, and 6 tablespoons pet milk in a sauce pan. Remove from heat and add 1 box confectioner's sugar, 1 teaspoon vanilla, and 1/2 cup nuts.
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