Torqueflite 727-904??

With a console shift, it is somewhat common for the sleeve around the button to slide upwards over the years, making it impossible for the little button to go down far enough to release the stick.
Look to the base of the sleeve/handle, grip. You will see a tiny setscrew there. Loosen it, push the sleeve down, and lock it in.
As you do this, keep one eye on the button; you will see it magically rise up out of the grip. Now it will do it's job!