It is a printing block...no doubt about it. Either used by a newspaper or a printing company. I'd say that there is a 99% chance that it was a stock design, offered for sale, and the newspaper or printer could offer an ad or flyer that read:
Looking for the latest in women's western wear?
Jackson's On Main
Phone Lincoln-5
BTW, printers in my area were still using blocks and setting type when I got into the printing business in the early 1990's. It was rare to see them, but I know several old timers who were still using them.