We have proposed earlier watermarking text documents by slightly shifting c
ertain text lines. Such a text line represents a noisy channel, and marking
represents the transmission of a signal through this channel. The power of
the signal represents the size of the shift and must be small for the mark
s to be imperceptible. In this paper, we formulate the channel capacity und
er a constraint or individual signal power. We show that to achieve the cap
acity, the shifts should be normally distributed, have maximum power, and a
djacent shifts should be negatively correlated.