1) I do think you have the correct person. There's a 1910 census image that shows a Lawrence Michaelis and brothers with mother Barbara Michaelis (born in Germany) in Cleveland, Ohio. 1910 Census She is listed as married with 6 children, but the date of her marriage (acc to the FamilySearch tree) is 1894. Where are the other children? There aren't any birth records for Michaelis in Ohio with Barbara as a mother and Otto (again from the FamilySearch tree). There are a bunch of birth records for Otto Michaelis as father in Ohio but again, not Barbara. I'd be the first to suggest that the FamilySearch tree is wrong. I'm perplexed that there aren't more Ohio birth records.
2) My theory -- having seen some of these thin covered bibles, is that it was given to Lawrence when he was completing classes/marriage classes/being baptized before he married Mae in 1934 (marriage date from FamilySearch tree). The church listed is probably in Erie County, Pennsylvania, as that was where he supposedly died and also where his son, was born and died. 1940 census I didn't see a church with that "...ington" christian church name in Erie County currently.
3) I do think that Saint Boniface is a Catholic cemetery, but it would seem that the family would have belonged to that parish to be buried there and the church bible (which looks like a protestant bible) doesn't match that scenario.
By the way, Mae (the widow, remarries before 1950) and Lawrence Jr. is found as a stepson.1950 census
As usual, more questions than answers...