Cream shortening, sugar and salt. Add water and milk. Mix yeast in the warm water, add beaten egg, mix well. Add 3 1/2 cups of flour, stir well, add remaining flour and mix well. Place dough in greased pan, cover and refrigerate until well cooled. Roll out dough 1/4 inch thick, cut into squares, fry until golden brown. Sprinkle with powdered sugar.