Don't you mean patents were usually issued on Tuesdays not Wednesdays? There are a few exceptions.
From DATAMP:
Starting in 1848 US patents were generally issued on Tuesdays. The following is a list of dates which do not follow this rule:
* 1849-03-10, a Saturday, was an issue date.
* 1850-12-31, a Tuesday, was not an issue date.
* 1851-01-01, a Wednesday, was an issue date.
* 1875-10-11, a Monday, was an issue date.
* 1875-10-12, a Tuesday, was not an issue date.
* 1971-06-28, a Monday, was an issue date.
* 1971-09-20, a Monday, was an issue date.
* 1974-06-28, a Friday, was an issue date.
Your wrench with the March 20, 1898 date is an oddity, mine and all the others I have seen have the Oct. 18, 1898 date.
I seem to recall that Stan Schultz connected this wrench with a Metz bicycle seat in a past issue of the Missouri Valley Wrench Club Newsletter but I can't find the article. Maybe Stan can drop by with more information.