| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Alloa | 36 | 23 | 8 | 5 | 70:39 | 31 | 77 | |
| 2. | Queen's Park | 36 | 19 | 6 | 11 | 70:48 | 22 | 63 | |
| 3. | Stranraer | 36 | 17 | 7 | 12 | 77:57 | 20 | 58 | |
| 4. | Elgin City | 36 | 16 | 9 | 11 | 68:60 | 8 | 57 | |
| 5. | Peterhead | 36 | 15 | 6 | 15 | 51:53 | -2 | 51 | |
| 6. | Annan | 36 | 13 | 10 | 13 | 53:53 | 0 | 49 | |
| 7. | Berwick | 36 | 12 | 12 | 12 | 61:58 | 3 | 48 | |
| 8. | Montrose | 36 | 11 | 5 | 20 | 58:75 | -17 | 38 | |
| 9. | Clyde | 36 | 8 | 11 | 17 | 35:50 | -15 | 35 | |
| 10. | East Stirlingshire | 36 | 6 | 6 | 24 | 38:88 | -50 | 24 |