Combine raisins and water in a saucepan.

Bring to a boil and cook for 20 minutes.

Ensure about 1 cup of liquid remains.

Remove from heat and let cool completely.

Preheat oven to 350°F (175°C).

In a mixing bowl, cream together shortening, sugar, and egg until light and fluffy.

In a separate bowl, sift together flour, nutmeg, cinnamon, cloves, and soda.

Gradually add the dry ingredients to the creamed mixture, alternating with the raisin liquid.

Fold in walnut meats.

Fill cupcake liners about 2/3 full.

Bake for 20 minutes, or until a wooden skewer inserted into the center comes out clean.

Let cupcakes cool in the pan for a few minutes before transferring to a wire rack to cool completely.

Frost with your favorite frosting.