-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 F6UlWbIWbYcdusgB2G0PBAWyd1wcZzDYMgHfF5R+h+JqmntV0fWQGZG6cT1zYblp
 Kez2zB/yoWVhDoj29yb9mQ==

<SEC-DOCUMENT>0000715072-05-000020.txt : 20050104
<SEC-HEADER>0000715072-05-000020.hdr.sgml : 20050104
<ACCEPTANCE-DATETIME>20050104202113
ACCESSION NUMBER:		0000715072-05-000020
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050101
FILED AS OF DATE:		20050104
DATE AS OF CHANGE:		20050104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROBINSON HUSE L
		CENTRAL INDEX KEY:			0001192027

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13253
		FILM NUMBER:		05510135

	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>robinsonform4010405_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-01-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000715072</issuerCik>
        <issuerName>PEOPLES HOLDING CO</issuerName>
        <issuerTradingSymbol>PHC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001192027</rptOwnerCik>
            <rptOwnerName>ROBINSON HUSE L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PEOPLES BANK &amp; TRUST CO</rptOwnerStreet1>
            <rptOwnerStreet2>209 TROY STREET</rptOwnerStreet2>
            <rptOwnerCity>TUPELO</rptOwnerCity>
            <rptOwnerState>MS</rptOwnerState>
            <rptOwnerZipCode>38802-0709</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>34.15</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>34.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5250</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21000.</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The conversion or exercise price is one for one.</footnote>
        <footnote id="F2">Equal installments of 33 1/3 of the option shares granted will become exercisable on the completion of one, two and three
years of service measured from the grant date, respectively.  The options expire ten (10) years from the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>H. L. Robinson</signatureName>
        <signatureDate>2005-01-04</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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