This paper deals with the stability problem for liquid storage tanks when excited simultaneously by earthquake and wind. While the latter load is considered as a static one, the dynamic action of the liquid due to the earthquake is taken into account, through the motion of the 'liquid column', the additional motion due to wall deformation, and the sloshing. However, special attention is paid to the shear stresses and their interaction with the normal stresses. To this end the variation of the shear stresses in the axial direction is investigated, and a combined stability criterion is used. A numerical example is also demonstrated.