| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Peterhead | 36 | 23 | 7 | 6 | 74:38 | 36 | 76 | |
| 2. | Annan | 36 | 19 | 6 | 11 | 69:49 | 20 | 63 | |
| 3. | Stirling | 36 | 16 | 10 | 10 | 60:50 | 10 | 58 | |
| 4. | Clyde | 36 | 17 | 6 | 13 | 50:48 | 2 | 57 | |
| 5. | Berwick | 36 | 15 | 7 | 14 | 63:49 | 14 | 52 | |
| 6. | Montrose | 36 | 12 | 10 | 14 | 44:56 | -12 | 46 | |
| 7. | Albion Rovers | 36 | 12 | 8 | 16 | 41:54 | -13 | 44 | |
| 8. | East Stirlingshire | 36 | 12 | 8 | 16 | 45:59 | -14 | 44 | |
| 9. | Elgin City | 36 | 9 | 9 | 18 | 62:73 | -11 | 36 | |
| 10. | Queen's Park | 36 | 5 | 9 | 22 | 36:68 | -32 | 24 |