My emergency brake does not work.

You can pull it up and it locks in. The problem, I think, is it needs new brake shoes. It's like there's no grab to it. There is a slight dip by our dumpster. I put the emergency brake on and it slowly goes down to the puddle. I've been doing some reading and have come up with that conclusion. The light on the dash even tells me when I don't have the brake down all the way. So it seems to me that the answer is brake shoes. What do you think please?

It's very important to note that this "emergency brake" is merely to secure the vehicle when parked, not really designed to act as a method of stopping the vehicle in general. Sure, as a cable operated system, if your hydraulic brakes are compromised, this system can help slow your vehicle down. But it sounds like it may already be operating as designed. The parking brake when engaged pulls on cables that pull on actuating mechanisms on the rear brake calipers to hold the vehicle in place when stopped. This is the primary purpose of that hand operated brake. I do not suspect the brake pads are at issue here, because the same brake pads stop the car with normal brake operation.

It doesn't hold the car, a stick shift, in one place. It let's it roll at the slightest decline. I have to leave it in gear to keep it in park.

I would have a technician inspect the cabling for proper adjustment, and check the parking brake actuators on the rear brake calipers for proper operation.