Well, what would you expect it to do if you just ran it from the command line? It is a console program, so unless you start it in its own window with the start command it's going to use the current command console and run until you tell it to stop.
You want to start the server with a batch file that runs all the necessary programs, something like:
Code:
@echo off
start EQEmuLoginServer.exe
start world
start eqlaunch zone