| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Stenhousemuir | 35 | 18 | 14 | 3 | 50:29 | 21 | 68 | |
| 2. | Peterhead | 35 | 15 | 12 | 8 | 56:38 | 18 | 57 | |
| 3. | Dumbarton | 35 | 16 | 9 | 10 | 55:42 | 13 | 57 | |
| 4. | Spartans | 35 | 14 | 13 | 8 | 51:42 | 9 | 55 | |
| 5. | East Fife | 35 | 11 | 11 | 13 | 45:45 | 0 | 44 | |
| 6. | Forfar Athletic | 35 | 9 | 15 | 11 | 38:41 | -3 | 42 | |
| 7. | Elgin City | 35 | 10 | 10 | 15 | 35:56 | -21 | 40 | |
| 8. | Bonnyrigg Rose | 35 | 8 | 12 | 15 | 43:48 | -5 | 36 | |
| 9. | Clyde | 35 | 8 | 11 | 16 | 43:58 | -15 | 35 | |
| 10. | Stranraer | 35 | 8 | 9 | 18 | 36:53 | -17 | 33 |