I don't believe mysql_query will parse beyond the first semi-colon, and for good reason. If it allowed you to stack queries into a single call, we'd all spend lots of time parsing every query which contained any kind of user input (well, even more time than we already do).
For example, let's say you have a form field that assigns it's value to "name". Naughty users might do this:
Name: brian;DROP TABLE user;
so name would now contain the above string. when you ran a query like: SELECT * from user WHERE name='$name'; You'd get an ugly surprise.
Beyond that, there are also problems handling result sets, etc.