| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Gretna | 36 | 32 | 2 | 2 | 130:29 | 101 | 98 | |
| 2. | Peterhead | 36 | 23 | 9 | 4 | 81:38 | 43 | 78 | |
| 3. | Cowdenbeath | 36 | 14 | 9 | 13 | 54:61 | -7 | 51 | |
| 4. | Queen's Park | 36 | 13 | 9 | 14 | 51:50 | 1 | 48 | |
| 5. | Montrose | 36 | 13 | 7 | 16 | 47:53 | -6 | 46 | |
| 6. | Elgin City | 36 | 12 | 7 | 17 | 39:61 | -22 | 43 | |
| 7. | Stenhousemuir | 36 | 10 | 12 | 14 | 58:58 | 0 | 42 | |
| 8. | East Fife | 36 | 10 | 8 | 18 | 40:56 | -16 | 38 | |
| 9. | Albion Rovers | 36 | 8 | 10 | 18 | 40:78 | -38 | 34 | |
| 10. | East Stirlingshire | 36 | 5 | 7 | 24 | 32:88 | -56 | 22 |