| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Forfar Athletic | 18 | 12 | 3 | 3 | 30:18 | 12 | 39 | |
| 2. | Raith | 18 | 11 | 4 | 3 | 41:20 | 21 | 37 | |
| 3. | Arbroath | 18 | 11 | 4 | 3 | 33:21 | 12 | 37 | |
| 4. | Montrose | 18 | 9 | 4 | 5 | 29:27 | 2 | 31 | |
| 5. | Dumbarton | 18 | 8 | 5 | 5 | 33:26 | 7 | 29 | |
| 6. | Airdrieonians | 18 | 6 | 4 | 8 | 22:19 | 3 | 22 | |
| 7. | Stranraer | 18 | 6 | 4 | 8 | 24:28 | -4 | 22 | |
| 8. | East Fife | 18 | 6 | 3 | 9 | 25:31 | -6 | 21 | |
| 9. | Brechin | 18 | 5 | 6 | 7 | 21:28 | -7 | 21 | |
| 10. | Stenhousemuir | 18 | 5 | 4 | 9 | 18:29 | -11 | 19 |