This is in an 87 Honda Prelude and the problem is the speedometer only works if the parking brake set to the first click?

It sounds like there may be a grounding issue or a faulty connection in the speedometer circuit, possibly related to the parking brake sensor. The parking brake might be affecting the electrical system, causing the speedometer to receive a signal only when engaged. Check the wiring and connections for any damage or corrosion, especially around the parking brake assembly and the speedometer itself. If the issue persists, it may be worth inspecting the speed sensor or vehicle speed cable for faults.