In a large pot over medium heat, melt lard. Cook beef in fat until brown on all sides; drain.
Pour in water and tomato-vegetable juice cocktail. Stir in onion, Worcestershire, chili powder, salt and bouillon. Bring to a boil, then reduce heat, cover and simmer 2 hours.
Stir in carrots, celery and potatoes and cook 20 to 40 minutes more, until vegetables have reached the desired tenderness.