Sorry I don't have more on TOWN. In the book "Read Genealogy" by Henry Martyn Dodd, he writes of Martin & Fanny:
Martin Stryker Reed, son of Benjamin (9) born Feb. 15th 1827, in Erie co., NY died June 4th, 1910 at Bourbon. He married (1) Fanny Emeline Town, Apr. 7th 1848, who died Oct. 8th, 1890. He married (2) about 1896, Mrs. Jane Taft, whose maiden name was Cushman. She died Feb. 15th, 1911. He had by his first wife:
1. Margaret Ellen, May 11, 1849
2. Charles Warren, Mar 14, 1851.
3. Albert Maxwell, May 11, 1852.
4. Elijah Martin, Sept. 5, 1854.
5. Olive Roxana, Sept 20, 1856.
6. Richard, Apr. 14, 1858.
7. William Henry Harrison, Dec 31, 1859.
8. Rose Melvin, Oct 7, 1861.
Martin Reed was an unusually versatile and successful farmer and trader, and divided among his children a very large estate. Their farms are fertile and productive, and they are leading men in their town.
I looked in the index for Walter(s). There was an Ellen Barbara Walter, who married William Smith Hutchinson & lived in Lancaster, NY. and a John Lee Walters who married a Leola Frances Allen in 1907. John Lee was "the son of _____ Walters and Sarah jane Shaw".