I've never used dbGlueObject yet in a program, but I found a thread about this problem:
http://forum.thegamecreators.com/?m=forum_view&t=163732&b=1
If I understood correctly, it's saying that the world coordinates of the glued object are taken as offset after glueing, which makes it move away from the parent, so you should set the position (and rotation) of the child object before glueing to calculated offset values... I cannot confirm this, lacking any personal experience with this command, but have a look at the thread and experiment with the coordinates.
EDIT: I did a small experiment and it seems that what this thread is saying is true: before glueing, you need to move the child object to the coordinates where you want it to be relative to the parent object. If the child object sits at 0,0,0, then after glueing it will jump to the center of the parent.