| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Stirling Albion | 39 | 55 | +30 | 22 | 11 | 6 | 59 | 29 |
| 2 | Alloa Athletic | 39 | 51 | +28 | 19 | 13 | 7 | 73 | 45 |
| 3 | Dunfermline Athletic | 39 | 50 | +16 | 20 | 10 | 9 | 52 | 36 |
| 4 | Stranraer | 39 | 46 | +21 | 20 | 6 | 13 | 74 | 53 |
| 5 | Queen's Park | 39 | 45 | +14 | 17 | 11 | 11 | 65 | 51 |
| 6 | Albion Rovers | 39 | 42 | +13 | 15 | 12 | 12 | 74 | 61 |
| 7 | Clyde | 39 | 41 | +4 | 15 | 11 | 13 | 68 | 64 |
| 8 | Berwick Rangers | 39 | 36 | -14 | 13 | 10 | 16 | 37 | 51 |
| 9 | Stenhousemuir | 39 | 35 | -11 | 15 | 5 | 19 | 38 | 49 |
| 10 | 39 | 32 | -16 | 12 | 8 | 19 | 47 | 63 | |
| 11 | Meadowbank Thistle | 39 | 32 | -16 | 8 | 16 | 15 | 41 | 57 |
| 12 | Cowdenbeath | 39 | 31 | -18 | 13 | 5 | 21 | 46 | 64 |
| 13 | Brechin City | 39 | 26 | -26 | 7 | 12 | 20 | 51 | 77 |
| 14 | Forfar Athletic | 39 | 24 | -25 | 7 | 10 | 22 | 43 | 68 |