| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 36 | 75 | +22 | 24 | 3 | 9 | 51 | 29 | |
| 2 | Arbroath | 36 | 70 | +28 | 22 | 4 | 10 | 61 | 33 |
| 3 | Queen's Park | 36 | 68 | +29 | 21 | 5 | 10 | 57 | 28 |
| 4 | East Fife | 36 | 67 | +22 | 20 | 7 | 9 | 59 | 37 |
| 5 | Dumbarton | 36 | 59 | +15 | 18 | 5 | 13 | 52 | 37 |
| 6 | Albion Rovers | 36 | 48 | -5 | 14 | 6 | 16 | 56 | 61 |
| 7 | Stenhousemuir | 36 | 44 | -10 | 13 | 5 | 18 | 53 | 63 |
| 8 | Montrose | 36 | 37 | -20 | 11 | 4 | 21 | 42 | 62 |
| 9 | Elgin City | 36 | 29 | -30 | 9 | 2 | 25 | 39 | 69 |
| 10 | 36 | 21 | -51 | 6 | 3 | 27 | 27 | 78 |