Preheat oven to 350 degrees F (175 degrees C). Grease and lightly flour a 10 inch Bundt pan. Stir together the flour, baking powder, 1 teaspoon ground cinnamon and salt; set aside.
In a large bowl, beat shortening, 1 1/3 cups white sugar and 1 1/2 teaspoon vanilla until light and fluffy. Add eggs one at a time, beating for at least 1 minute after each egg. Beat in the flour mixture alternately with the milk. Pour batter into prepared pan.
Bake in the preheated oven for 40 to 45 minutes, or until a toothpick inserted into the center of the cake comes out clean. Let cool in pan for 10 minutes, then turn out onto a wire rack. Remove cake from pan while it is still warm, and poke holes around the top of the cake with a fork. Pour the warm cinnamon syrup into the holes and onto the top and sides of the cake.
To Make Cinnamon Syrup: In a saucepan, combine 1/2 cup white sugar, butter, water, 1 teaspoon vanilla and 3/4 teaspoons ground cinnamon. Heat and stir until butter melts.
