Dear Thomas,
I do not compile ncurses via libtool, but just to have things fixed.
Apple provides libtool that is not command-line compatible with GNU libtool.
Apple provides GNU libtool as glibtool (/usr/bin/glibtool).
Package managment system Macports provides GNU libtool as glibtool
(/opt/local/bin/glibtool)
Its competitor Fink installs GNU libtool as /sw/bin/glibtool or
/sw/bin/libtool, I am not sure.
Ergo it looks like a good idea to look for glibtool, if search
for libtool fails, or libtool turns out not to be GNU libtool.
I am not sure.
May be the user MUST manually point configure to the correct libtool
using command-line option if anything is non-standart?