| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Meadowbank Thistle | 39 | 55 | +31 | 23 | 9 | 7 | 69 | 38 |
| 2 | Raith Rovers | 39 | 52 | +29 | 16 | 20 | 3 | 73 | 44 |
| 3 | Stirling Albion | 39 | 52 | +22 | 20 | 12 | 7 | 55 | 33 |
| 4 | Ayr United | 39 | 52 | +21 | 22 | 8 | 9 | 70 | 49 |
| 5 | St. Johnstone | 39 | 45 | +10 | 16 | 13 | 10 | 59 | 49 |
| 6 | Alloa Athletic | 39 | 41 | -1 | 17 | 7 | 15 | 49 | 50 |
| 7 | Cowdenbeath | 39 | 40 | +4 | 16 | 8 | 15 | 59 | 55 |
| 8 | Albion Rovers | 39 | 39 | -3 | 15 | 9 | 15 | 48 | 51 |
| 9 | Queen's Park | 39 | 37 | -1 | 9 | 19 | 11 | 48 | 49 |
| 10 | Stranraer | 39 | 29 | -19 | 9 | 11 | 19 | 41 | 60 |
| 11 | Arbroath | 39 | 29 | -20 | 11 | 7 | 21 | 46 | 66 |
| 12 | Stenhousemuir | 39 | 29 | -21 | 10 | 9 | 20 | 37 | 58 |
| 13 | 39 | 23 | -23 | 6 | 11 | 22 | 33 | 56 | |
| 14 | Berwick Rangers | 39 | 23 | -29 | 8 | 7 | 24 | 40 | 69 |