Im just catching up on old threads.
There's a more complete transcription of the William stone at
https://falkirklocalhistorysociety.files.wordpress.com/2021/05/slamannan-parish-churchyard.pdf (page38)
Which reads:
147.Obelisk. 440 x 50 x 50. (1) To/ the Memory of/ WILLIAM WOOD/
OF/ TOWNHEAD AND MOSSCASTLE/ WHO DIED AT GLEN=ELLRIGG/
AUGUST 21ST 1842/ AGED 54 YEARS./ ERECTED/ BY A FEW FRIENDS
IN/ SLAMANAN AND FALKIRK/ IN TOKEN OF RESPECT FOR/ HIM AS
AN UPRIGHT, A/ BENEVOLENT, AND A HUMANE MAN. (2) HERE ALSO
REPOSE/ THE ASHES OF/ MARY MAIN RELICT OF/ WILLIAM WOOD,/
OF MOSSCASTLE/ WHO DIED 28TH JULY 1854,/ AGED 54 YEARS. [on
side]. (3) W.HUME FALKIRK [on upper plinth]. [58].Flat. HERE LYES
THE DUST OF/ JAMES WOOD OF MOSSCASTLE/ WHO DIED 1774/
ALSO THE DUST OF/ SWASANNA WOOD/ HIS GRAND DAUGHTER/
Also JAMES WOOD AND/ SUSANNA ALISON/ HERE LYES THE DUST
OF/ JAMES WOOD SON OF JAMES WOOD/ AND SUSANNA WEIR.
Best i can follow is that William's father was James, as was his grandfather.
Side note: if the family stories here are to believed, Susana Reilly Wood may have been given a teacup and saucer from the family set. Her brother John Stainton Wood (my g-g-grandfather) was apparently given one as was each of the children as they set off on their own adventures. I heard it has a thistle on it, though I am unsure which of my father's cousins is in possession of it now.