Keeps within town square (4)
I believe the answer is:
owns
'keeps' is the definition.
(I've seen this in another clue)
'within town square' is the wordplay.
'within' says the answer is hidden in the clue.
'OWNS' is hidden within 'town square'.
(Other definitions for owns that I've seen before include "Belongs to" , "Confesses" , "uses" , "Possesses" , "Admits possession" .)