Anders, I will assume you are aware of the US Kansas-Nebraska overprints, a fair number of fight over them when seen offered on eBay
. I will offer a bid if its a precancel I dont have on either OP. However whats MORE fun, and this ties to this Cuyahoga Falls precancel, is finding either a Kansas or Nebraska with a precancel from another state. So like your Canadian, finding a KS or Neb with like one of mine, a Mich precancel, just amazing. I further researched this Mich and it seems the Postmaster ran of 2c to precancel and he was shipped these Neb overprints.
I like the strange and unusual precancel items. Now directly to your stamp. My suspicion is a collector living in Cuyahoga Falls, might have known a clerk at the PO and put this Canada 1c on a piece of paper and asked to have it precanceled, thus as others have suggested, a "FAVOR". What would be AWESOME find would be a Canada Stamp with a Niagara Falls, NY precancel OR, a US Stamp with a Canadian Niagara Falls precancel.... Now I'd get excited over either of those??
Great find tho and Happy Collecting Anders