According to Mr. William J. Morrisey, a prominent real estate dealer of Brooklyn, who spent some time in Porto Rico, the island is no place for an American to invest any money at present. He says that the place can be made to pay, provided the United States Government clears the entire island of Spaniards and fills the towns and cities with the American people. Mr. Morrisey also states that the natives of the cities are desirous of becoming American citizens, but that out in the country, it is far different. These people are constantly in fear of the Americans, and their sole desire is to dispose of their property as soon as possible and return to Spain. The more enlightened of them are of the opinion that the United States Government will banish all the Spaniards from the island and thereby make it more agreeable for the residents. A dispatch of the Evening Post says that in view of representations made to the War Department that the municipal councils in Porto Rico were making hay while the sun shines, and granting business franchises right and left under the Spanish law empowering them to do so, orders were recently issued to General Brooke to put a stop to the practice forthwith, and the announcement was given out that on the evacuation by the Spaniards, and our assumption of military authority in the island, no more of these loose grants would be made. Meanwhile American shippers were in a state of mind over a lack of ships with which to conduct the normal commerce of this country with Porto Rico. The change of status for the island, from being a foreign possession to a port of the United States coast, had made the rigid regulations of our coasting trade applicable to it, and the purchase of so many of our coasting vessels by the government for use as transports, coalers, and the like, had embarrassed the progress of coast commerce not a little. The regulations had to be suspended on two or three occasions to let in ships which seemed absolutely necessary, and now the question came up whether it would be best to suspend the regulations altogether or to have each separate vessel which needed American papers apply to Congress for special legislation. There was another question, and a very important one, which came up, and that was how far Louisiana and other sugar-producing States would be affected by the annexation of Porto Rico. In no State in the Union does a single interest play so important and so peculiar a part as the sugar industry in Louisiana. Fully two-fifths of the inhabitants of the State are more or less interested in sugar, and any great disaster to the crop would injure ninety per cent. of the population in southern Louisiana.