| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Cowdenbeath | 36 | 20 | 11 | 5 | 68:29 | 39 | 71 | |
| 2. | Arbroath | 36 | 17 | 12 | 7 | 76:51 | 25 | 63 | |
| 3. | Dumbarton | 36 | 17 | 7 | 12 | 61:61 | 0 | 58 | |
| 4. | Airdrieonians | 36 | 14 | 10 | 12 | 68:60 | 8 | 52 | |
| 5. | Stenhousemuir | 36 | 15 | 6 | 15 | 54:49 | 5 | 51 | |
| 6. | East Fife | 36 | 14 | 6 | 16 | 55:57 | -2 | 48 | |
| 7. | Forfar Athletic | 36 | 11 | 9 | 16 | 58:71 | -13 | 42 | |
| 8. | Brechin | 36 | 10 | 11 | 15 | 47:62 | -15 | 41 | |
| 9. | Albion Rovers | 36 | 10 | 7 | 19 | 43:66 | -23 | 37 | |
| 10. | Stirling | 36 | 9 | 7 | 20 | 45:69 | -24 | 34 |