You're welcome, Susanne, and thanks for storing the song so somebody could find it! I have found many fine songs on your site in the past.
Obviously (now!) "pearl-handled pocket-knife" would have been sufficient for Google to come up with the goods. "For a five bladed, silver plated, pearl handled pocket knife." was, with hindsight, information overload.

Further googling reveals that the song is included on a "Homer & Jethro" album:-
RCA Victor LPM/LSP-3877 Somethin' Stupid: The Ballad Of Roger Miller; Somethin' Stupid; Upside Down; The Bagel Song; I Can Spell Banana; Kosher Chitlins; Laugh And Scratch; Smellin' Like A Rose; Human Cannon Ball; Pearl Handled Pocket Knife; Old Grand Dad; Sow, Sow, Sow Your Oats – 09-67

ASCAP (THE AMERICAN SOCIETY OF COMPOSERS, AUTHORS AND PUBLISHERS) has the following entry:
"PEARL HANDLED POCKET KNIFE                     Work ID: 460120707
Writers:
   FORT HANK
   HUTCHINS DEWEY
Performers:
(none found)
Variations:
(none found)
Publishers/Administrators:
(none found)"

So now we know the authors' first names as well - but they still seem to be keeping a very low profile. But wait, there's more here on Hank Fort (1914-1973?)
http://scratchyattic.blogspot.co.uk/2009/02/hank-fort-sings-her-own-great-songs.html Whole album supposedly downloadable but didn't work for me. "Pocket Knife" isn't on it, but many of the songs appear to have been covered by other artists in the forties, fifties and later.

And the lady herself on YouTube -
Hank Fort - Put Your Shoes On Lucy (and read the comments lower down the page).
Several albums available on eBay and Musicstack.

No info on Dewey Hutchins

Ross