. . .

150 Opening BINARY mode data connection for pine4.21.tar.gz (3129479 bytes).
100% |*************************************|  3056 KB   39.13 KB/s    00:00 ETA
226 Transfer complete.
3129479 bytes received in 01:18 (39.07 KB/s)
221-You have transferred 3129479 bytes in 1 files.
221-Total traffic for this session was 3130222 bytes in 1 transfers.
221-Thank you for using the FTP service on ftp1.cac.washington.edu.
221 Goodbye.
===> Installing for pine-4.21nb1
/usr/local/bin/libtool install -c -s -o root -g wheel -m 555 
/usr/pkgsrc/mail/pine/work/pine4.21/pine/pine /usr/local/bin/
/usr/local/bin/libtool: not found
*** Error code 1

Stop.

. . .

The make worked fine after I installed devel/libtool myself.