| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Ayr | 36 | 24 | 4 | 8 | 92:42 | 50 | 76 | |
| 2. | Raith | 36 | 22 | 9 | 5 | 68:32 | 36 | 75 | |
| 3. | Alloa | 36 | 17 | 9 | 10 | 56:43 | 13 | 60 | |
| 4. | Arbroath | 36 | 17 | 8 | 11 | 70:51 | 19 | 59 | |
| 5. | Stranraer | 36 | 16 | 5 | 15 | 58:66 | -8 | 53 | |
| 6. | East Fife | 36 | 13 | 3 | 20 | 49:67 | -18 | 42 | |
| 7. | Airdrieonians | 36 | 10 | 11 | 15 | 46:60 | -14 | 41 | |
| 8. | Forfar Athletic | 36 | 11 | 5 | 20 | 40:65 | -25 | 38 | |
| 9. | Queen's Park | 36 | 7 | 10 | 19 | 42:72 | -30 | 31 | |
| 10. | Albion Rovers | 36 | 8 | 6 | 22 | 57:80 | -23 | 30 |