| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Raith Rovers | 36 | 76 | +33 | 22 | 10 | 4 | 60 | 27 |
| 2 | Ayr United | 36 | 74 | +33 | 22 | 8 | 6 | 71 | 38 |
| 3 | Brechin City | 36 | 62 | +6 | 18 | 8 | 10 | 51 | 45 |
| 4 | Peterhead | 36 | 56 | +15 | 15 | 11 | 10 | 54 | 39 |
| 5 | Stirling Albion | 36 | 53 | +10 | 14 | 11 | 11 | 59 | 49 |
| 6 | East Fife | 36 | 44 | -5 | 13 | 5 | 18 | 39 | 44 |
| 7 | Arbroath | 36 | 41 | -2 | 11 | 8 | 17 | 44 | 46 |
| 8 | Alloa Athletic | 36 | 41 | -12 | 11 | 8 | 17 | 47 | 59 |
| 9 | Queen's Park | 36 | 33 | -19 | 7 | 12 | 17 | 35 | 54 |
| 10 | Stranraer | 36 | 16 | -59 | 3 | 7 | 26 | 31 | 90 |