Sift together flour, baking powder and salt. Set aside. In a small bowl, mix water, milk and vanilla. Cream together 1 1/4 c. sugar, shortening and butter. Add flour mixture alternating with milk mixture. Beat egg whites and 1/4 c. sugar until stiff. Fold egg whites into batter. Pout into parchment lined pans. Bake at 325 degrees for 30 minutes.