>We are having problems starting our server automatically via the INITTAB file.
...
>Explanation (fstat error): A file or directory in the path name does not exist.

The server is testing for its database and recovery log volumes, per the
dsmserv.dsk file, and cannot find them.  Whereas you have no trouble with
starting the server from the command line, your problem is probably timing:
I'd suspect that your inittab arrangement is such that rc.adsmserv is
getting run too early in the system start-up sequence, before the volumes
containing your TSM database and recovery log are mounted and ready.
Look into any untoward mount delays and/or consider changing the position
of your rc.adsmserv in the inittab or modify rc.adsmserv to wait for
resources you know it needs.
     Richard Sims, BU