A fantastic souvenir knife for the CPR showing the steamship docks, “the Sleeping Beauty” (Crown Mountain) from Stanley Park (which may be based on this postcard), and the Empress. Exactly which Empress steamship is undetermined. From the item description:

This is a great early souvenir knife from Canada. It has great scales with different images on both sides. The knife was made by Griffon from Germany. The image of the Empress ship that was owned by the Canadian Pacific Railway is great. The Empress of Ireland sank in 1914 killing 1012 people, and became the deadliest Maritime disaster in Canadian history. The blades have never been sharpened and are tight with great snap. This knife measures 3-1/16” long when closed.

A bit more about Griffon Cutlery Works from the web:

The Griffon Cutlery Works was founded in 1888 by Albert L. Silberstein (1866-?)…Originally located on Broadway (until around 1915), then at 74-76 Fifth Avenue, they moved into [a] building on West 19th Street in 1920 and remained [t]here until 1968. They also had a factory and branch outlet in Solingen, Germany.

The CPR actually had 16 steamships with the “Empress” moniker, about half of which saw service in the Pacific (the other half traversed the Atlantic). These ships included the Empress of Asia, Australia, Britain, Canada, China, France, India, Ireland, Japan, Russia, and Scotland. You can probably guess which ships sailed in the Pacific and which were in the Atlantic based on their names.

According to wikipedia & the web, here are the ships of the Pacific: Empress of Asia, Australia, China, India, Japan, and Russia. And these ships sailed the Atlantic: Empress of Britain, Canada, France, Ireland, and Scotland (though the second ship to bear the name Empress of Scotland was actually the Empress of Japan before 1942).

We can try to deduce which Empress is depicted on the knife if we narrow down the number of Pacific ships with just two smoke stacks. Process of elimination leaves the Empress of China, India, or Japan, but to confuse things further, there were more than one vessel using each one of these names. Actually, I think this image depicts TWO ships, with just tail end of the second ship at the right. Determined nautical enthusiasts might be able to make a more precise response, and a special prize goes to anyone who locates a photograph of the same image. 

For the discerning collector, this knife is available for the prestigious price of $99 on ebay from seller combolox, with $32.90 shipping to Canada.