1 cup (2 sticks) margarine
1/2 cup shortening
3 cups granulated sugar
6 eggs
1 teaspoon vanilla extract
3 cups all-purpose flour
1 cup milk
1 1/2 cups coconut

Cream margarine, shortening and sugar together. Add eggs, one at a time. Add vanilla extract. Add flour and milk alternate; mix in coconut. Bake in a greased and floured tube pan for 1/2 hours at 275 degrees F.

Glaze
1 cup granulated sugar
1/4 cup (1/2 stick) margarine
1/2 cup evaporated milk
1 teaspoon vanilla extract
1 cup coconut

Boil all ingredients except coconut for 2 minutes. Add coconut. Spread mixture over cake and let cool.