In 1980 Woodward reported generation of induced electric charges Q in falling cylinders of copper, steel and aluminium. In 1982 he also reported induced electric charges in rotating cylinders of different metals. In order to explain these observations, Woodward used a generalization of Maxwell’s equations, proposed by Luchak. These equations contain the gravitational field, but their predictions appeared to be not quite satisfactory. Since that time, no attempts have been made to explain the observed charges. Previously, related experiments on rotating metal cylinders were carried out by Surdin in 1977 and 1980. He reported reversing magnetic induction fields near rotating cylinders of bronze and tungsten. In this work a renewed analysis of the observations above is given, applying a special interpretation of the gravitomagnetic equations, deduced from general relativity. In this approach it is assumed that the gravitomagnetic field is equivalent to the magnetic induction field from electromagnetic origin. Formulas for the generated gravitomagnetic field, the induced voltage and induced charge Q in Woodward’s falling cylinders have been deduced. The predicted charges are proportional to the impact velocity, but are an order of magnitude smaller than the observed charges. The magnetic induction fields observed by Surdin are in agreement with the predictions from the proposed theory, but no explanation for the reversal of these fields has been given.