-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HbVH4XJwmxW9NvZ8E6BDO4phDY92k2yJGMXCS3u86NzXdWmF8+AJREjfkArSRCxf
 mjA4XK4UlfkmXu1gFXIC7w==

<SEC-DOCUMENT>0001005477-03-000822.txt : 20030512
<SEC-HEADER>0001005477-03-000822.hdr.sgml : 20030512
<ACCEPTANCE-DATETIME>20030512143755
ACCESSION NUMBER:		0001005477-03-000822
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030509
FILED AS OF DATE:		20030512

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LEAKE ROBERT C
		CENTRAL INDEX KEY:			0001192036

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13253
		FILM NUMBER:		03692494

	BUSINESS ADDRESS:	
		STREET 1:		C/O PEOPLES BANK & TRUST CO
		STREET 2:		209 TROY STREET
		CITY:			TUPELO
		STATE:			MS
		ZIP:			38802-0709
		BUSINESS PHONE:		6626801472

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEOPLES HOLDING CO
		CENTRAL INDEX KEY:			0000715072
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				640676974
		STATE OF INCORPORATION:			MS
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		209 TROY ST
		STREET 2:		P O BOX 709
		CITY:			TUPELO
		STATE:			MS
		ZIP:			38802
		BUSINESS PHONE:		6016801001

	MAIL ADDRESS:	
		STREET 1:		209 TROY ST
		STREET 2:		P O BOX 709
		CITY:			TUPELO
		STATE:			MS
		ZIP:			38802
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

<documentType>4</documentType>
    <periodOfReport>2003-05-09</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
<issuer>        <issuerCik>0000715072</issuerCik>
        <issuerName>PEOPLES HOLDING CO</issuerName>
<issuerTradingSymbol>PHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
    <reportingOwnerId>
        <rptOwnerCik>0001192036</rptOwnerCik>
            <rptOwnerName>LEAKE ROBERT C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-09</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>400</value>
            </transactionShares>
            <transactionValue>
                <value>44.00</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>16157</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <ownerSignature>
        <signatureName>Robert C. Leake</signatureName>
        <signatureDate>2003-05-12</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----