| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Stirling Albion | 36 | 65 | +20 | 18 | 11 | 7 | 68 | 48 |
| 2 | Alloa Athletic | 36 | 65 | +14 | 19 | 8 | 9 | 49 | 35 |
| 3 | Cowdenbeath | 36 | 59 | +19 | 16 | 11 | 9 | 60 | 41 |
| 4 | Brechin City | 36 | 54 | +5 | 15 | 9 | 12 | 50 | 45 |
| 5 | Peterhead | 36 | 51 | -4 | 15 | 6 | 15 | 45 | 49 |
| 6 | Dumbarton | 36 | 48 | -9 | 14 | 6 | 16 | 49 | 58 |
| 7 | East Fife | 36 | 41 | -7 | 10 | 11 | 15 | 46 | 53 |
| 8 | Stenhousemuir | 36 | 40 | -4 | 9 | 13 | 14 | 38 | 42 |
| 9 | Arbroath | 36 | 40 | -14 | 10 | 10 | 16 | 41 | 55 |
| 10 | Clyde | 36 | 31 | -20 | 8 | 7 | 21 | 37 | 57 |