nt installation problem

[emacs user]

ok, so I gave up on cygwin and am trying the windows installation procedure.

I get a copy of latest gno emacs from cvs (22.50.0)
use the latest cygwin
open a cygwin xterm, bash shell
cd emcas/nt
./configure.bat
make bootstrap.

things go well for a while, and then I get the error message below.  any 
hints on what I might be doing wrong, or is this perhaps some bug?  
thanks...

make[1]: Entering directory `/usr/local/emacs/lisp'
/usr/local/emacs/lisp/../update-subdirs /usr/local/emacs/lisp; \
       for file in calc calendar emacs-lisp emulation erc eshell gnus 
internati
onal language mail mh-e net obsolete play progmodes term textmodes url; do \
          /usr/local/emacs/lisp/../update-subdirs $file; \
       done;
/usr/local/emacs/lisp/../update-subdirs: line 23: cd: erc: No such file or 
direc
tory
Directories: . calc calendar emacs-lisp emulation erc eshell gnus 
international
language mail mh-e net obsolete play progmodes term textmodes url
"./../bin/emacs.exe" -batch --no-init-file --no-site-file --multibyte -l 
autoloa
d \
               --eval '(setq find-file-hook nil 
find-file-suppress-same-file-wa
rnings t)' \
               -f w32-batch-update-autoloads 
"/usr/local/emacs/lisp/loaddefs.el
" . calc calendar emacs-lisp emulation erc eshell gnus international 
language ma
il mh-e net obsolete play progmodes term textmodes url
Cannot open load file: encoded-kb
make[1]: *** [autoloads] Error 255
make[1]: Leaving directory `/usr/local/emacs/lisp'
make: *** [bootstrap-gmake] Error 2

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