The magnetic field effects on both the static stability limit and the resonance frequency of a magnetic liquid column are examined theoretically and experimentally. We first derived the theoretical resonance frequency of a column using linear potential theory. Then, in the experiment, a vertical cylindrical magnetic liquid column was formed between two electromagnets. As the magnetic field intensity was decreased, the column's diameter exhibited hysteresis, such that its stability limit extended to a smaller diameter range due to the coaxial magnetic field. The column was also subjected to lateral excitation and the surface frequency response of the non-axisymmetric first two modes were observed. It was found that the resonance frequency of the column increases with increasing magnetic field intensity and decreases with an increase in the aspect ratio of the column (mean diameter / height). The resonance frequency of the first mode was in qualitative agreement with the theory.