GOLD BAN on U.S. citizens and companies holding the metal outside U.S. spurred biggest gold sales in London in months. Buyers interpreted decree as increased U.S. worry about dollar's soundness. Gold held abroad (estimated at $200 million) must be sold by June 1. Move, intended to prevent future speculation on dollar devaluation, will be hard to enforce, probably have little effect.

STOCK-BUYING by New York Central Railroad Co. sent Baltimore & Ohio Railroad Co. stock soaring 10 1/2 points (to 47) before it fell back to 38 1/2 after Interstate Commerce Commission opened an investigation. Buying was Central's last-ditch way to block merger of B.&O. with Chesapeake & Ohio railroad.

TAX DEFERMENT PLAN of Sears, Roebuck & Co. to put off paying $150 million in taxes won Internal Revenue Service approval, opens way for other merchandising giants to do same thing. Under plan, Sears will sell to 30 banks $1.1 billion in accounts receivable on installment purchases, act as banks' agent in collecting payments. Sears will pay taxes only after money is received, instead of as formerly, when it paid taxes on sales even though many were made on credit.

PACIFIC AIR CARRIERS will get no more competition on current routes. Eisenhower turned down CAB recommendation that Pan American and Northwest Orient get parallel routes with each other and with foreign flag lines between U.S. and Japan. Ike feared new routes might "adversely affect" foreign relations, also found that forecast of only 17 revenue passengers a day in five years made further competition uneconomical.

JAPANESE STOCKS will soon be traded more easily in the U.S. Japanese Finance Ministry okayed trading in stock of 16 firms, through American depository receipts. Stock certificates will be deposited in Japanese banks for account of U.S. banks, which will issue depository receipts giving full ownership.

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