Steve,
This is a common issue. The stem packing that these valves use cannot be tightened, It is a fixed seal. Unfortunately, they get old and do as yours did. The valve is also capable of "top seating". This means that it will "back seat" the valve disk so there is no load on the stem seal at that time. This always makes me nervous when I have to deal with it. It may be near impossible to buy a replacement stem seal for that valve. You will be able to buy a replacement valve from a shop that does things with LP tanks and have them replace it. They may have to dump the tank to do this. Not many have the capability to recover the LP that is in the tank.
Matt