Hello Burak,
> initdb -D /usr/local/pgsql/data
> > it runs and creates some dirs/files and stops after printing this;
> > creating template1 database in /usr/local/pgsql/data/base/1...
I had the same problem. I resolved it by following the Postres.7.2.readme in
the usr/doc/cygwin directory, saying:
1.) load ipc-daemon
2.) NOW start initdb
Full success only after finding and installing cygwin snapsoph 20020212
Best wishes
harald