A man who allegedly threatened a Los Angeles police officer with a butcher knife was shot to death in the Highland Park area. The unidentified 64-year-old man, believed to be a transient, had been menacing teen-agers with the weapon on Ash Street near Avenue 56, when police were called, Lt. Charles Higbie said. When the man was confronted by Officer Charles B. Hickman, he "rapidly advanced" toward the officer and brandished the knife, Higbie said. Hickman, 47, a 17-year police veteran, " . . . ordered (the man) to drop his weapon and when he failed to comply . . . fired one round from his shotgun," Higbie said. The man, shot in the chest, was pronounced dead at the scene.