trouble with an older version of postgresql

Hi, i downloaded telegraphCQ, a datastreaming tool based on postgresql 7.3.2.

I managed to install it and some library it needs, and now i have to start postmaster and create a database.

Step 1: $ initdb --no-locale -D /home/kkrizan/tcq/pgdata

All goes well

Step 2: $ pg_ctl start -D /home/kkrizan/tcq/pgdata -l /home/kkrizan/tcq/log/pglog

All goes well. I can see postmaster process using ps –x.

Step 3: $ createdb kkdb

I get an error.

createdb: could not connect to database postgres: FATAL:  Database "postgres" does not exist in the system catalog.

Could you give me a few pointers how to solve this error problem?

Thanks in advance

Kresimir Krizanovic