This recipe was passed on to me by a dear neighbor who was a Nanny in Austria for many years. She was 84 when she passed away, but her Mom made this for her and her brother when she was a little girl. It is a moist, heavy cake. I find that Cortland apples taste best in this recipe. If you do not have access to Cortland apples, Granny Smith's add a nice flavor as well.
Cream the butter and sugar together, add oil, eggs and mix well. Stir in apples, walnuts, vanilla and chocolate chips. Mix the dry ingrediants together in a separate bowl. Add moistened ingrediants to dry ingrediants.Pour into a greased bundt pan and bake for 35-40 minutes. Mix 1/2 cup of confectionary sugar with 11/2 tbls. of milk. Glaze the cooled cake with this. So yummy!