| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 36 | 98 | +101 | 32 | 2 | 2 | 130 | 29 | |
| 2 | Peterhead | 36 | 78 | +43 | 23 | 9 | 4 | 81 | 38 |
| 3 | Cowdenbeath | 36 | 51 | -7 | 14 | 9 | 13 | 54 | 61 |
| 4 | Queen's Park | 36 | 48 | +1 | 13 | 9 | 14 | 51 | 50 |
| 5 | Montrose | 36 | 46 | -6 | 13 | 7 | 16 | 47 | 53 |
| 6 | Elgin City | 36 | 43 | -22 | 12 | 7 | 17 | 39 | 61 |
| 7 | Stenhousemuir | 36 | 42 | 0 | 10 | 12 | 14 | 58 | 58 |
| 8 | East Fife | 36 | 38 | -16 | 10 | 8 | 18 | 40 | 56 |
| 9 | Albion Rovers | 36 | 34 | -38 | 8 | 10 | 18 | 40 | 78 |
| 10 | 36 | 22 | -56 | 5 | 7 | 24 | 32 | 88 |