I had a look at on-line at the BSW and BSF thread dimensions, and while 11/16"is a recognised though now uncommon size, neither of them are 16 TPI, nor is there a comparable BSPP thread.
M18 is a possibility, though why would Redditch have used that back in the 50's, assuming Redditch fork top plugs and those fitted to pre-plain top Indian forks have been interchangeable all these years? Apart from spark plug threads I can't think of any metric threads that would have been used by Redditch back then. 11/16" is very close to 18mm, 1/16" as in 1/16 of 16 TPI is again close to 1.5mm. As Alan R was able to find actual 11/16" x 16TPI taps and dies listed for sale, my money is on Redditch using a thread of their own choice, which by happy accident is "close enough" to M18 x 1.5mm! I am open to evidence to the contrary...
Of possible interest.
http://www.tap-die.com/contents/en-uk/s ... %20x%201.5
A.