| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Ayr United | 39 | 61 | +64 | 27 | 7 | 5 | 95 | 31 |
| 2 | St. Johnstone | 39 | 59 | +50 | 25 | 9 | 5 | 74 | 24 |
| 3 | Queen's Park | 39 | 51 | +20 | 21 | 9 | 9 | 64 | 44 |
| 4 | Brechin City | 39 | 48 | +16 | 20 | 8 | 11 | 56 | 40 |
| 5 | Stirling Albion | 39 | 46 | +9 | 18 | 10 | 11 | 60 | 51 |
| 6 | 39 | 43 | +4 | 15 | 13 | 11 | 52 | 48 | |
| 7 | Alloa Athletic | 39 | 40 | +4 | 16 | 8 | 15 | 50 | 46 |
| 8 | Montrose | 39 | 35 | -6 | 12 | 11 | 16 | 45 | 51 |
| 9 | Arbroath | 39 | 34 | -12 | 10 | 14 | 15 | 54 | 66 |
| 10 | Stenhousemuir | 39 | 33 | -9 | 12 | 9 | 18 | 49 | 58 |
| 11 | Cowdenbeath | 39 | 33 | -15 | 10 | 13 | 16 | 51 | 66 |
| 12 | Albion Rovers | 39 | 31 | -30 | 10 | 11 | 18 | 45 | 75 |
| 13 | Berwick Rangers | 39 | 16 | -45 | 6 | 4 | 29 | 33 | 78 |
| 14 | Stranraer | 39 | 16 | -50 | 4 | 8 | 27 | 34 | 84 |