| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Peterhead | 18 | 12 | 1 | 5 | 37:22 | 15 | 37 | |
| 2. | Annan | 18 | 9 | 3 | 6 | 35:26 | 9 | 30 | |
| 3. | Clyde | 18 | 8 | 3 | 7 | 21:24 | -3 | 27 | |
| 4. | Stirling | 18 | 7 | 4 | 7 | 26:28 | -2 | 25 | |
| 5. | Montrose | 18 | 5 | 6 | 7 | 23:32 | -9 | 21 | |
| 6. | Berwick | 18 | 5 | 5 | 8 | 25:27 | -2 | 20 | |
| 7. | East Stirlingshire | 18 | 6 | 2 | 10 | 19:31 | -12 | 20 | |
| 8. | Elgin City | 18 | 3 | 6 | 9 | 25:40 | -15 | 15 | |
| 9. | Queen's Park | 18 | 3 | 4 | 11 | 19:32 | -13 | 13 | |
| 10. | Albion Rovers | 18 | 2 | 6 | 10 | 18:34 | -16 | 12 |