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CAKE: Preheat oven to 350*F.
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Grease and flour a 10" tube pan.
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With an electric mixer on low speed, cream together the butter and sugar.
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Add eggs, one at a time, blending well after each addition.
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Blend in vanilla.
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Scrape down sides of bowl; blend on high speed for 6 minutes, scraping bowl occasionally.
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Whisk together the flour, cocoa powder, baking powder, and salt.
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Mix in the flour mixture alternately with the milk, blending after each addition until the batter is smooth.
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Stir in the chocolate chips; pour batter into the prepared pan.
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Bake for 75-85 minutes, or until a toothpick tests done.
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Cool in pan for 20 minutes; invert onto a serving dish and cool completely.
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GLAZE: Combine the chocolate chips, shortening, and corn syrup in a saucepan over very low heat.
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Stir just until melted and smooth; cool slightly.
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Pour or spoon glaze over cake; let stand until glaze is set.