In September of 1893 Herbert, Bertie Glasson, who was a stock and station agent in Carcoar and Blayney, broke into the residency of the City Bank building on Belubula Street late at night, with a razor sharp tomahawk in his hand and theft on his mind.

What happened next was one of the most ghastly and vicious attacks in the region's history one which left bank manager Mr Phillips dead.

The tail of death and destruction will be retold in all its gory glory at this year's Carcoar Village Fair.

Volunteers and acting students from Charles Sturt University and the University of Sydney will tell the story of that fateful night during the Australia Day fair on Sunday.

Creative director Tim Hansen said that this year both the Belubula River and roaming street performances would be the highlights of the fair.

"There is nowhere like Carcoar where you have a beautiful river flowing through the town, a wonderful green bank that leads down to it, and this year we'll have live music down on the bank as well," he said.

"With water being released on the day the river will be the perfect spot for a swim and a picnic."

Belubula Street will be lined with vintage cars and purveyors of fine local food and ales, offering the opportunity to eat, drink and be merry.

The Carcoar Village Fair runs from 8.30am through to 4pm this Sunday. Entry is $5 per adult and kids under 12 are free.