Drop Anchor

A man is posing as a pirate in a lake. He is in the middle of the lake and decides to drop anchor. The anchor reaches the bottom of the lake with extra slack on the line. Or to make it more familiar to some of us: drops the anchor, drives off, snaps the line. (Oops!) Anyway, the question is what happens to the level of the water of the lake from time A to B. If there is a change it will be very small and completely unnoticeable, but lets forget that and think theoretically. Would the water level on the shore lines go up, down, or stay the same?