| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Greenock Morton | 36 | 72 | +34 | 21 | 9 | 6 | 67 | 33 |
| 2 | East Fife | 36 | 71 | +36 | 20 | 11 | 5 | 73 | 37 |
| 3 | Albion Rovers | 36 | 70 | +26 | 20 | 10 | 6 | 62 | 36 |
| 4 | Peterhead | 36 | 68 | +39 | 20 | 8 | 8 | 76 | 37 |
| 5 | Stirling Albion | 36 | 56 | +6 | 15 | 11 | 10 | 50 | 44 |
| 6 | 36 | 45 | 0 | 11 | 12 | 13 | 50 | 50 | |
| 7 | Montrose | 36 | 33 | -26 | 7 | 12 | 17 | 35 | 61 |
| 8 | Queen's Park | 36 | 32 | -12 | 7 | 11 | 18 | 39 | 51 |
| 9 | Elgin City | 36 | 28 | -30 | 5 | 13 | 18 | 33 | 63 |
| 10 | 36 | 13 | -73 | 2 | 7 | 27 | 32 | 105 |