| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Alloa | 18 | 13 | 4 | 1 | 43:13 | 30 | 43 | |
| 2. | Elgin City | 18 | 11 | 3 | 4 | 43:17 | 26 | 36 | |
| 3. | Queen's Park | 18 | 10 | 4 | 4 | 41:17 | 24 | 34 | |
| 4. | Stranraer | 18 | 10 | 2 | 6 | 43:33 | 10 | 32 | |
| 5. | Annan | 18 | 7 | 5 | 6 | 28:26 | 2 | 26 | |
| 6. | Peterhead | 18 | 7 | 5 | 6 | 25:23 | 2 | 26 | |
| 7. | Montrose | 18 | 7 | 3 | 8 | 34:33 | 1 | 24 | |
| 8. | Berwick | 18 | 6 | 5 | 7 | 30:28 | 2 | 23 | |
| 9. | Clyde | 18 | 5 | 5 | 8 | 24:23 | 1 | 20 | |
| 10. | East Stirlingshire | 18 | 5 | 4 | 9 | 24:33 | -9 | 19 |