well i coulnt get it working with the slackware tgz file so i went to the source
got the latest postgresql.tar.gz unpackaged it.
then as a non root user cd into the directory, did a ./configure then a make.
didnt take long about 3 mins.
then su and then make install.
everything seemed to go smooth.
then still as root user.
chown postgres /usr/local/pgsql/data
su - postgres
/usr/local/pgsql/bin/initdb -D /usr/local/pgsql/data
then this command which seemed to start the database.
/usr/local/pgsql/bin/postmaster -D /usr/local/pgsql/data
now to create databases i had to su postgres again from root, this is i suppose where you would add users and everything.