| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Stranraer | 36 | 79 | +57 | 24 | 7 | 5 | 87 | 30 |
| 2 | Stirling Albion | 36 | 77 | +51 | 23 | 8 | 5 | 78 | 27 |
| 3 | 36 | 68 | +20 | 20 | 8 | 8 | 59 | 39 | |
| 4 | Peterhead | 36 | 61 | +30 | 18 | 7 | 11 | 67 | 37 |
| 5 | Cowdenbeath | 36 | 55 | +7 | 15 | 10 | 11 | 46 | 39 |
| 6 | Montrose | 36 | 48 | -11 | 12 | 12 | 12 | 52 | 63 |
| 7 | Queen's Park | 36 | 41 | -12 | 10 | 11 | 15 | 41 | 53 |
| 8 | Albion Rovers | 36 | 40 | -9 | 12 | 4 | 20 | 66 | 75 |
| 9 | Elgin City | 36 | 25 | -45 | 6 | 7 | 23 | 48 | 93 |
| 10 | 36 | 8 | -88 | 2 | 2 | 32 | 30 | 118 |