| # | Team | MP | W | D | L | G | GD | Pts | Form |
|---|---|---|---|---|---|---|---|---|---|
| 1. | Annan | 18 | 11 | 2 | 5 | 37:28 | 9 | 35 | |
| 2. | Queen's Park | 18 | 10 | 4 | 4 | 27:13 | 14 | 34 | |
| 3. | Albion Rovers | 18 | 10 | 3 | 5 | 27:18 | 9 | 33 | |
| 4. | Arbroath | 18 | 9 | 5 | 4 | 35:19 | 16 | 32 | |
| 5. | East Fife | 18 | 8 | 6 | 4 | 28:22 | 6 | 30 | |
| 6. | Elgin City | 18 | 7 | 4 | 7 | 28:29 | -1 | 25 | |
| 7. | Berwick | 18 | 5 | 8 | 5 | 30:23 | 7 | 23 | |
| 8. | Clyde | 18 | 6 | 4 | 8 | 22:27 | -5 | 22 | |
| 9. | East Stirlingshire | 18 | 7 | 1 | 10 | 22:31 | -9 | 22 | |
| 10. | Montrose | 18 | 6 | 1 | 11 | 24:36 | -12 | 19 |