Cream 1 1/2 cups vegetable shortening, 2 1/4 cups sugar and 5 eggs at high speed for 10 minutes. Combine 3 cups all-purpose flour, 1 teaspoon baking powder, 1/4 teaspoon salt, add to creamed mixture alternately with 1 cup milk, beginning and ending with flour mixture. Beat well, add 2 teaspoons coconut flavoring and 1 (7 ounce) can of flaked coconut. Mix well. Turn into greased and floured 10 inch tube pan. Place in COLD oven. Turn temperature to 325 degrees and bake for 1 hour and 25 minutes or until cake tests done. Cool in pan 5 minutes, then pour syrup on hot cake.
Coconut Syrup: In saucepan, combine 1 1/2 cups sugar, 3/4 cup water and 2 tablespoons butter. Bring to a boil, boil 5 minutes. Remove from heat and add 1 1/2 teaspoons coconut flavoring. (I use frozen coconut and add just enough dry flaked coconut to make 7 ounces.)