Most pension applications I have seen have one or two comrades who authenticate his service. Are there any on the papers you hold. This could aid in identifying his unit.
Below is information on your man in the 30th Texas.
George Martin
M Wafters
Residence was not listed;
Enlisted as a Private (date unknown).
"A" Co. TX 30th Cavalry
30th Regiment, Texas Cavalry (Gurley's) (1st Texas Partisan Rangers)
30th Cavalry Regiment [also called 1st Texas Partisan Rangers] was organized at Waco, Texas, during the summer of 1862. It was formed with about 800 from Waco and Round Rock, and Hill Country. Assigned to D.H. Cooper's, Gano's, and Parsons' Brigade, Trans-Mississippi Department, it fought in Arkansas and later in the Indian Territory. The unit reported 16 casualties at Poison Spring and 19 at Cabin Creek. During May, 1865, it disbanded at Austin, Texas. Colonel Edward J. Gurley, Lieutenant Colonel Nicholas W. Battle, and Major John H. Davenport were in command.
His record in the Compiled Service Records yields only:
Pvt. M. Watters, enlisted on January 25, 1863 in Company A, 30th Texas Cavalry at Camp McCulloch for 3 years or the war. The one and only card in his file is a company muster for the period July/August 1863, in the block Present or Absent, it is recorded "Not Stated."