Thanks for the replies and compliments. My research so far has been interesting if not overly productive. My first thought was that "Hensel" referred to some business interest, perhaps a hardware store or perhaps some other business completely unrelated to the knife industry. The fact that the name is in quotation marks, however, somehow seemed odd to me if used in that context. With that in mind, my best theory to this point is that the knife etching was either commissioned by or perhaps gifted to someone locally within the Cattaraugus community. Hensel seems to be a somewhat common surname in Cattaraugus County, NY and while I haven't found anything remotely close to a direct link, I think I have found a possible suspect.
Charles E. Hensel (1912-1991) was, according to a newspaper account at the time a street was renamed for him in the city of Salamanca, NY, "widely know as a businessman, developer, public servant and visionary, whose hard work and dedication to the community left many enduring marks in the city of Salamanca." Salamanca is only about 7 miles down the road from Little Valley (site of the Cattaraugus Factory). Apparently in addition to operating a family owned commercial real estate business, Charles E. Hensel was also at one time the Common Council President for Salamanca. I also discovered that there is a memorial scholarship named in his honor for "Outstanding Business-Marketing Education Student of the Year" and he even had a locomotive named in his honor by the New York & Lake Eerie line. If he is in fact the "Hensel" that is referred to on the knife etching, it could've possibly been done as a promotional item for his real estate business, or possibly related to a political campaign, or perhaps just as a gift.
In conclusion, nothing definitive yet, but I've learned a lot about Cattaraugus (both the company and the county) while digging through information available on-line. And even if I never discover who or what "Hensel" was, the research has been interesting and informative.
Thanks again for the feedback.