compiling libtool 1.4.2

[Antonio Inojal]

Hello, I am having trouble installing libtool 1.4.2. My current version of libtool is: 1.3.5. This is what happens:

/bin/sh ./libtool --mode=link gcc  -g -O2  -o libltdl.la -rpath /usr/local/lib -no-undefined -version-info 3:0:0 ltdl.lo  
rm -fr .libs/libltdl.la .libs/libltdl.* .libs/libltdl.*
./libtool: parse error: condition expected: xno = [3181]
gcc -dynamiclib  -o .libs/libltdl.3.0.0.dylib  ltdl.lo  -lc -install_name  /usr/local/lib/libltdl.3.dylib -compatibility_version 4 -current_version 4.0
libtool: unrecognized option `-arch_only'
Try `libtool --help' for more information.
gnumake[1]: *** [libltdl.la] Error 1
gnumake: *** [all-recursive] Error 1

The important part in that text that should be addressed is "libtool: unrecognized option '-arch_only' ". I was wondering if you know anything about this error, why it happens, and how can it be fixed. I have searched the makefile and the configure file for '-arch_only' and so far have found nothing. I thought that the script "libtool" had something to do with it ( 1st line ). Well, if you can come up with anything give me a buzz. Thank You for your time and effort. 
Tony