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William is tentatively identifed as the father of Hugh Reynolds. There is some evidence suggesting that William Reynolds and his son Hugh Reynolds were living in Martic Township along with William Neely and William Devin. See, 1757 Tax List, Martic Township, Lancaster PA.
A William Reynolds left a will in Cecil Co., MD, which is a few miles from Lancaser. The will of William Reynolds (abstracted below) names a son Hugh Reynolds. William Neale, the father-in-law of Hugh Reynolds, is from the same general area.
Maryland Probate Records, 1674-1774
Calendar of Wills, Vol 16, 1774-1777, Calendar of Wills 1774-1777, Page 74
William Reynolds, Cecil Co., Planter; Aug 26, 1775 - September 11, 1775
To trusty friends: Fanny Reynolds and Patrick Fitzsimons, executors, to sell my whole estate both real and personal and after debts are paid money to be used as follows:
To daughter Pheaby Celly, 5 shillings.
To daughter Martha, 5 shillings.
To daughter Agness Fitzsimon, 5 shillings.
To son Hugh Reynolds, 10 pounds.
To daughter Saray, 5 pounds.
Remaining part of my estate to be divided in 6 equal parts and given as follows:
To wife Fanny Reynolds, son James Reynolds, daughter Jean Reynolds, daughter Mary Reynolds, son John Reynolds, daughter Ellinor Reynolds, each one sixth part.
To Martha McLean, 5 shillings.
A William Reynolds died in Randoplh Co., but is probably not in our direct line.
Source: http://wc.rootsweb.ancestry.com/cgi-bin/igm.cgi?op=GET&db=laaubry&id=I1180
William inherited lot #19, the south lot, from his father. This land consisted of 490 acres and was located immediately west of the West Nottingham Friends MH. William Reynolds, wife and children produced a certificate of transfer from E. Nottingham Mtg, PA, dated 1751-2mo-20, at the opening session of the Cane Creek MM, NC, 1751-10mo-7. William Reynolds of Orange Co. NC was granted land on 24 Jun 1751, according to a Randolph Co. NC deed. William Reynolds was listed as a taxpayer in Rowan Co. NC in 1758, 1759, 1761 and with son Henry, in 1770. William and Rachel Reynolds sold property in Guilford Co. NC 17 May 1771, located on the North Fork Polecat Creek (now located in Randolph Co. Guilford Co. was created from Orange and Rowan Cos. in 1770 Randolph Co. was created from Guilford Co. in 1779.) William was a member of the following Friends congregations: E. and W. Nottingham Mtg, PA; Cane Creek MM, NC; New Garden MM, NC and in NE Randolph Co. NC, 1.5 miles north of Providence Meetinghouse. A trailer park is presently located there. According to his NC descendants, the Providence MH was originally to be built in that location, but after William's burial, a site was chosen 1.5 miles away. These descendants have been collecting money to place a plaque on the large rock remaining on the property as a memorial to William. William was one of two progenitors for northern central NC Quaker Reynolds. Some of his descendants remained in NC, others moved to Indiana in the 1830s and 1840s
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Married: Mary Nealey (1756)