The paint on those old Jeralds is very hard, might have just popped off over the years, leaving no finish on the wood. So they COULD have been painted but now show no evidence of it. Then unfinished wood absorbed moisture making the surface rough.
Old varnished wood gets alligator finished. The varnish dries up into small yellow/brown squares like alligator hide. Varnish doesn’t seem to pop off the wood like the hard paint.
We learn as we go along. Carriage painters used auto paints years ago, but being wood and flexible, the hard drying paint did not endure well on the wood parts.
Now with auto paints you add a hardener, add as much or little as you desire for harder dried paint. Car restorers want hard paint, shines up better, sticks to the metal or fiberglass better. Carriage painter wants a less hard finished paint, because wood moisture will vary over the seasons and paint MUST flex or it will crack apart and pop off.
We get our carriage paint from the local custom car paint shop. Custom cars are BIG around here! The shop will have hundreds of colors and shades of colors to choose from. They mix it right then and you get the right hardener so you are all set to go. Any paint from them has plenty of sparkle when dried. Again, do have a good respirator mask, those sprayed paint particles are VERY TINY, easy to breathe in, damage your lungs. Change the mask filters often.
Other folks have brushed on that paint, had very nice results with it though you do have to paint quickly. You can sand between coats with fine sandpaper, take off any brush lines. Does put on a real depth of finish in paint, but hand painting is a lot of work and spraying is faster for most folks.
You might call the Jerald company if you can find the serial number on the viceroy, ask what the original finish or colors were. They would sell you the wood parts you need replaced, along with paint.
http://www.jeraldsulky.com/