| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Brechin City | 36 | 73 | +29 | 22 | 7 | 7 | 67 | 38 |
| 2 | Dumbarton | 36 | 61 | +11 | 18 | 7 | 11 | 59 | 48 |
| 3 | Albion Rovers | 36 | 59 | +9 | 16 | 11 | 9 | 51 | 42 |
| 4 | Peterhead | 36 | 56 | +11 | 17 | 5 | 14 | 63 | 52 |
| 5 | Montrose | 36 | 55 | +4 | 16 | 7 | 13 | 43 | 39 |
| 6 | Elgin City | 36 | 47 | -2 | 13 | 8 | 15 | 45 | 47 |
| 7 | 36 | 40 | -7 | 12 | 4 | 20 | 51 | 58 | |
| 8 | East Fife | 36 | 40 | -17 | 11 | 7 | 18 | 39 | 56 |
| 9 | Stirling Albion | 36 | 37 | -23 | 9 | 10 | 17 | 45 | 68 |
| 10 | Queen's Park | 36 | 35 | -15 | 9 | 8 | 19 | 38 | 53 |